Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

Landbay Survey: Landlords Seek Greater Certainty from Lenders

A recent Landbay buy-to-let survey reveals that over 80% of landlords consider the current market unstable or unpredictable. The findings highlight a strong demand for greater certainty and consistent product availability from lenders amid recent mortgage market volatility.

The survey, which focused on landlord experiences during a period of mortgage market instability, found that 55.6% of landlords described the market as 'somewhat unpredictable', while 26.3% labelled it 'highly volatile'. Landbay attributed these views to the disruption seen in March and April, particularly regarding rates and product availability.

More than a third (35.3%) of landlords reported reducing their activity due to global events and rate movements, and 21.8% said they had delayed plans altogether. Confidence in accessing buy-to-let finance has also been affected, with 49.6% of respondents saying their confidence had worsened in recent months. However, 45.1% said their confidence remained unchanged, indicating that many landlords still see funding as accessible.

Product availability remains a concern, with 57.9% of landlords describing current buy-to-let product choice as 'limited' and 24.8% as 'very limited'. Landbay noted that product availability has started to improve recently, with lenders reintroducing products and pricing stabilising after earlier volatility.

Despite these challenges, landlord activity levels remain high. Nearly half of respondents had either completed a buy-to-let mortgage in the last month (25.6%) or were currently progressing one (24.1%). The survey also found that more than 82% of landlords used a broker from the outset when arranging their latest mortgage, while almost 10% initially tried to arrange finance themselves before turning to an adviser.

When choosing a lender, 66.2% of landlords said competitive rates were most important, but 44.4% highlighted the need for certainty once a mortgage offer had been issued. Stability of pricing during the application process (36.1%) and consistent product availability (34.6%) were also key requirements.

Regarding recent mortgage applications, 39.8% of landlords experienced no issues, but 27.8% needed to move quickly to secure products, 19.5% faced delays due to changing market conditions, and 18.8% had to switch products during the process. Landbay stated that these findings reinforce the value of professional advice in navigating a complex lending environment.