19 Oct

70% of buy to let buyers using intermediaries

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."

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