19
Oct
70% of buy to let buyers using intermediaries
Property investors in the UK overwhelmingly opt to use an
intermediary when taking out a buy to let mortgage, it has been
claimed.
Research from Birmingham Midshires showed that 70 per cent of UK
landlords opt for a go-between to iron out details of their buy to
let mortgages.
Furthermore, the popularity of the practice is seemingly unique to
Britain, the survey showed, with intermediaries far less likely to
be employed in European countries.
In Germany just 26 per cent of buy to let applicants opt for
assistance, while in Portugal and Poland the figures are 23 per
cent and six per cent respectively.
Steve Sandiford, head of specialist lending strategy at Birmingham
Midshires, said: "Across Europe the norm is to buy well into your
thirties. The UK is moving to a more continental European mindset
with home ownership no longer the be all and end all.
"While the UK has a clearly defined concept of a ''buy to let''
mortgage - it appears to be something that is unique."
