In episode 70 of the Growth Series podcast, Andrew Calder, Corporate Account Manager at Accord Mortgages, speaks to Rich Merrett, Head of Strategic Development at Simply Biz about the future of the buy-to-let market.
Rich predicts continued growth in the market, despite strong economic headwinds, as buy-to-let is still seen as a robust investment option by both existing and prospective landlords. Furthermore, he believes buy-to-let property is lucrative as it can appreciate in value over time and generate regular returns.
Andrew then asks about whether the much-predicted urban exodus has happened, or if towns and cities are still attractive to investors. Rich points out that while some people have looked to move to the countryside, the so-called race for space hasn’t been as widespread as has been reported, as young professionals in particular still want to live in urban locations.
The conversation then turns to how rising inflation and the cost of living crisis might affect demand for buy-to-let across the country. Rich believes demand will grow, as many people, especially first-time buyers, will struggle to save for a deposit.
Next, they discuss how lenders can better support the buy-to-let market. Rich praises lenders for doing a great job over the last few years, but says they need to be quicker to spot emerging trends in terms of how people live, work and want to invest their money.
Rich is then asked how advisers can provide a better service to landlord clients, and he says that since the market is incredibly complex, they should keep themselves educated and informed, using resources such as the Growth Series.
Finally, Andrew asks what key information landlords should be aware of in order to be successful in the future. Rich highlights proposed changes in energy efficiency regulations as one key issue, and says lenders and advisers both have a duty to make sure landlords know what’s in store.
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01:15 to 29:01:
Introduction to the guest
The future of the buy-to-let market
Has the urban exodus happened?
The impact of the cost of living crisis
How can lenders better support the buy-to-let market?
How can brokers provide a better service to landlord clients?
Key information landlords need to be aware of in the coming months/years
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Accord Mortgages Limited is authorised and regulated by the Financial Conduct Authority. Accord Mortgages Limited is entered in the Financial Services Register under registration number 305936. Buy to Let mortgages for business purposes are not regulated by the Financial Conduct Authority. Accord Mortgages Limited is registered in England No: 2139881. Registered Office: Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ. Accord Mortgages is a registered Trade Mark of Accord Mortgages Limited.
References to 'YBS Group' or 'Yorkshire Group' refer to Yorkshire Building Society, the trading names under which it operates (Chelsea Building Society, the Chelsea, Norwich & Peterborough Building Society, N&P and Egg) and its subsidiary companies.
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