"The Mortgage Broker is Dead" But Landlords should Watch out for the World of Cross-Selling

We've just received an email in the office promoting an upcoming exhbition / conference for mortgage brokers entitled "The Mortgage Broker is Dead".

This dramatic title clearly underlines the extreme difficulties that many mortgage brokers are experiencing at the moment.

Unable to secure decent credit terms for many landlords who are beyond a 60% loan to value, alongside the fact that property isn't been bought and sold they are suffering. No opportunities for commission!

So they are looking to diversify their offerings through pushing other financial product, such as equity release schemes, insurance, debt management and IVA's. I suppose it's a sign of extreme times within the financial sector.

It's less of a case of ' let's help you buy a house' and more a case of ' let's try and keep your shirt'.

Anyway landlords should look out for men pushing 'equity release'. The next few years should be a time of consolidation and reducing credit levels for landlords.

Landlord should remember that any financial adviser works on commission so tread carefully.

'Cash is king'

See our BTL mortgage help pages.

My next posting will be sharing our deepest sympathies with the poor suffering estate agents - ONLY JOKING!!!