Coming off the back of a period where the purchase market – from a residential and buy-to-let perspective – made up a vast percentage of intermediary business, advisers are having to refocus somewhat as activity levels are shifting more towards the remortgage market as vast numbers of product terms are expiring across the industry.
This is especially apparent in the BTL sector which is being 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.
This is evident in a recent webinar poll from CHL Mortgages which outlined that 70% of portfolio landlords expect to remortgage or consolidate loans over the next 12 months.