Proper Brokering Means More Than Just the Right Rate
At Needham Financial, which operates within the Cornerstone Network, we've built our approach around this idea. The role of the broker isn't just about accessing lenders or comparing rates – it's about being ready with solutions, whatever the client's circumstances. That means knowing which lenders will consider a quirky property, or a landlord with a slightly unusual financial history. It means having more in your toolkit than the same five mainstream options.
The recent arrival of new lenders like Moda Mortgages, for example, has given us extra choice and with it, more flexibility for clients. That's essential in a buy-to-let market where so many borrowers are coming to the end of ultra-low fixed rates and are understandably anxious about what happens next.
Many landlords are facing a significant step up from sub-2% deals to something much higher. And while interest rates have started to ease, for those on a variable rate deal the question of whether to remortgage or wait it out is one that needs careful consideration. This is where brokers really can add value by planning ahead, reviewing portfolios well before expiry dates, and helping clients understand the wider implications of their decisions.
It's never a one-size-fits-all scenario. For some, a product transfer might make sense. For others, it could be better to move lender or even reassess the structure of their portfolio altogether. But that advice can only be meaningful if we, as brokers, have done our homework – and that includes staying on top of legislation, regulation, lender criteria, and emerging products.
The Renters Reform Bill is just one example of how quickly the landscape can shift. These changes may not impact the mortgage itself, but they do influence landlord decision-making. And if we want to give credible advice, we need to understand the broader context.
There's also the matter of protection – something that's often overlooked in buy-to-let conversations, but just as important. Landlords face a range of risks, from missed rental payments to damage to their properties. We should be helping them think about how best to manage those risks. That includes looking at income protection, landlord insurance, and, in some cases, life cover – particularly where the portfolio supports dependents or carries significant borrowing.
Framing this as part of a financial resilience plan, rather than just another product to sell, makes a real difference. Because while the worst-case scenarios might not be pleasant to think about, the reality is they can and do happen to ordinary people all the time.
The foundation for all of this is simple: stay informed. Brokers need to invest time in their own knowledge, whether that's through training, lender updates, or keeping an eye on policy developments. It's about being proactive – not reactive – and giving landlords confidence that their advisor is on the front foot.
That's what I like to call 'proper brokering'- the kind of service that goes far beyond just securing a mortgage deal.
Jonathan talks about this and more in the Cornerstone Finance Group podcast episode Understanding the Buy-to-Let Landscape. Listen to the podcast here.
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