Are your landlord clients looking to reduce their mortgage costs? Well, they’re not alone…
With rising running costs and increasing levels of taxation, it’s no surprise that 29% of landlords and property investors are looking to reduce their mortgage costs.
Well, that’s just one of the findings from Kent Reliance for Intermediaries’ latest report – The finance of investing: tracking landlords’ costs and economic contributions.
Along with highlighting the financial contributions landlords make to the British economy each year, it also explores how their spending – including maintenance and refurbishments – is changing following political and economic influence.
Some of the other key statistics include:
- Landlords collectively contribute £16.1bn to the British economy through spending – up from £8.5bn a decade ago
- However, 36% of landlords are considering cutting their expenditure as tax rises and higher running costs begin to bite
- Property maintenance and improvement have been identified as key areas for cost cutting, followed by letting agent fees and mortgage costs.
What do you think – are your buy to let clients looking to reduce their spending in 2019?
If that’s a ‘yes’, then this report could help you become their go-to expert.
Alternatively, if your clients need buy to let case solutions, speak to our broker liaison team now on 01634 888260 and see how we can help.