Kent Reliance: Expanding distribution
It seems hard to believe that it’s already time to decorate the tree and buy the turkey! As we starting wrapping the presents, it’s worth taking some time to reflect on what has been an eventful year in the mortgage world! The introduction of the European Mortgage Credit Directive and the tax changes on BTL investments kept us all busy in Q1, the outcome of the EU referendum in June has created some uncertainty around how this will impact the market and everyone is now focused on preparing for new standards required by the PRA for underwriting BTLs, some of which come into effect on 1st January. It certainly hasn’t been a quiet year in the market.
At Kent Reliance, we’ve been busy expanding our distribution throughout the UK, supported with the recruitment of top class talent from across the industry to help make our ambitious growth plans a reality. Joining Mortgage Intelligence’s panel in June was a key part in this. Since partnering with Mortgage Intelligence, we’ve had a great reaction from its members and I’m delighted to see that we’re helping you to create solutions for your client’s borrowing needs, with numbers growing markedly every month.
As we prepare for next year, the UK BTL market will require a greater level of underwriting knowledge and specialist expertise to meet the challenges of the new regulations in 2017. Not only is Kent Reliance ideally positioned to support both you and your client’s through these changes but we also have the desire to be the specialist lending expert of choice in 2017.
Although Kent Reliance provided limited company lending well before the recent tax changes were announced, we wanted to respond to increased broker demands for a product that catered more for this shift towards professionalisation. This is precisely why, earlier this year; we enhanced our limited company proposition to make it easier for landlords to transfer their existing buy to let property from their individual name into a limited company or a limited liability (LLP) partnership structure.
Switching into a limited company or LLP structure may not be the best option for every investor and we also encourage anyone considering this move to seek advice from a qualified professional before rushing into any decisions. However, with more and more limited company products becoming available, the choice in the market is greater than ever before and it may just bring back some much needed confidence for landlords. Just make sure you pick a specialist lender who understands how to make it happen and one which isn’t afraid to join in the debate.
Enjoy the festive season, and I wish you a prosperous New Year. We look forward to working with you.