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Buy to let in trouble? Not according to this trading statement…
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Original Source: Letting Agent Today.
Original Author: Graham Norwood.
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Mortgage Advice Bureau increased revenue by 15 per cent to £49m in the first half of 2017, and reports that the buy to let sector and owner-occupier lending are both steady.
“Overall the housing market has remained steady and was not unduly affected by the election in early June. There are some signs of softening home mover activity. However, for most of those moving home currently, it is not a discretionary decision, with lifestyle factors causing them to need to move. The remortgaging market both for residential and buy-to-let remains steady” according to Peter Brodnicki, the broker’s chief executive.
The firm reported a growth in revenue per adviser in the first half of this year, even compared to the same period of 2016 when there was a flurry of buy to let activity ahead of the stamp duty surcharge being introduced.
Meanwhile the company has seen a 14 per cent increase in the average number of advisers to 974 over the six month period from January 1.
