CONTENTS
Taking a leaf out of landlords’ books
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or first-time buyers and those struggling to get into the property market, it would be easy to look with envy at landlords boasting a string of properties – they are the ones, it might be suggested, who are driving up house prices by scooping up the country’s limited stock and soaking up the financial rewards. However, if you have had dealings with those who do business in the buy-to-let market, you will be quick to paint a different picture. Landlords, or at least the majority, have their goals set very much around consumers’ needs. For proof, look no farther than Paragon Bank’s Landlords Report 2022. It found that when expanding portfolios, landlords’ top priority is ensuring that properties are suitable for their preferred tenant type; this was chosen by just over half, or 51 per cent, of the 621 landlords surveyed. The report gave the example of David, a landlord from Durham who manages a 20-property portfolio with his wife Joanne, and who shared that living close to their portfolio meant he can respond quickly to tenant requests for assistance. “I attend every letting viewing with the agent in order to meet all prospective tenants to discuss their needs, wants, and background on the day,” he said. Considering how properties meet the needs of tenants is top of the list of priorities for landlords – somewhat in contrast to the negative perception of profits over people. It’s a lesson that strikes at the heart of every successful business – and one brokers should be keen to focus on amid the ongoing cost-of-living crisis. There has rarely been a time when placing the needs of the customer first has been more important – and with that comes an enhanced reputation and positive word-of-mouth. It’s not about profits vs people; it’s about happy people = profits. Paul Lucas
SoMo_Specialist_Finance_Strip_Ads_126x22mm_May22.pdf
4 Feature: A special year for specialist finance Is now the time for the unique solutions this market can offer to step up and thrive with more mainstream acceptance? 9 Interview with Smartsearch’s Collette Allen 10 Bridging Finance 12 The untapped potential of second charge lending 14 Q&A with Louis Alexander, CEO at SoMo 24 Development finance 32 Commercial finance 36 Buy-to-let 39 Asset finance & Secured loans 4 Classifieds 23/05/2022 11:15 42
Guide to Specialist Finance – brought to you by Mortgage Introducer
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