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BTL landlords in pole position to withstand market volatility
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
A specialist lender saw a significant rise on the FTSE 250 yesterday, with buy-to-let mortgages and loans experiencing above-forecasted demands.
OneSavings Bank is seeing significant rewards after upping its focus on professional landlords since the Brexit vote. The lender believes buy-to-let investors are, ‘better positioned to withstand market volatility.’
Business
The bank is looking to gain further business moving forwards by lowering its standard variable rate by 0.25% from September, in line with the Bank of England’s recent cut.
Specialising in buy-to-let mortgages and loans to small businesses, OneSavings Bank saw its pre-tax profits rise by 36% to £64.6m in the first half of the year. This helped boost its share price by 16.9% by the close of trading yesterday.
BTL landlords in pole position to withstand market volatility
Andy Golding, chief executive at OneSavings, believes it is way to early to predict the long-term implications of Brexit on the buy-to-let sector, the housing market and the economy as a whole.
He observed, it is too soon to predict the medium to long-term impact of Brexit on the UK economy, but we will continue to concentrate on what we have proven we do best-using our broker relationships, manual underwriting expertise and secured lending strategy to lend responsibly to customers in undeserved markets.’[1]
[1] https://www.landlordtoday.co.uk/breaking-news/2016/8/buy-to-let-investors-are-better-positioned-to-withstand-market-volatility
