Advisors a ‘lifeline to landlords’
Financial advisors are providing advice to nearly three-quarters of buy-to-let investors, according to new research.
Some 74 per cent of landlords look to the experts to assist them when it comes to purchasing, according to Alliance & Leicester Mortgages.
This breaks down as 46 per cent relying on them a 'fair amount' and 28 per cent a 'great deal', it added.
Findings showed that the advisors were valued in three areas - sourcing new deals, arranging them and in offering a service otherwise unavailable to them.
"Landlords need their advisers to obtain information that they can’t easily get hold of themselves as well as helping them get the best mortgage product for their needs," said Mehrdad Yusefi, head of intermediary mortgages at the financial institution.
However, Deloitte has reported a sharp increase in the number of independent financial advisers going under, according to Health Insurance & Protection.
There was rise of around 50 per cent in the number during 2006.
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