Seven out of 10 portfolio landlords expect to remortgage or consolidate loans over the next 12 months, according to a poll by CHL Mortgages.
The intermediary-only BTL lender surveyed more than 100 specialist BTL brokers who said around 70% of their portfolio landlords clients were in this position.
The poll found that over half these brokers (53%) had one to five landlords clients looking to remortgage or consolidate loans in 2022, with 16% stating they had more than 10 portfolio landlords in this position.
The poll was done during a lender spotlight webinar session, held held in conjunction with Knowledge Bank. Further polls were taken around limited company activity and SPVs.
When asked the question: ‘What percentage of your landlord clients are considering opening limited companies for their BTL properties’, almost a third of broker respondents (29%) said that more than 75% of their portfolio clients were considering the move.
Focusing on SPVs and trading companies, 51% of brokers outlined that they have clients wishing to house properties in a trading company instead of setting up an SPV — with 49% not believing this to be the case for landlords they are working with.
CHL commercial director Ross Turrell says: “We know how strong the BTL market has been from a purchase perspective in recent times, and whilst we still expect sustained levels of activity from portfolio landlords when adding to their portfolios over the course of 2022, this data underlines the vast remortgage potential currently on offer.
“This potential will be driven by considerable numbers of five-year fixed rate deals maturing over the course of the year and the ball really is in the court of proactive advisers to make the most of these remortgage opportunities in what remains a highly competitive lending space and an uncertain interest rate environment.“
CHL Mortgages’ specialist buy-to-let product range is available to first-time landlords, portfolio landlords and limited companies covering a variety of BTL investment vehicles including HMOs and MUFBs.
