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More competition expected in the buy-to-let sector

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25/01/2013
Miguel Sard, managing director of Abbey for Intermediaries, expects other lenders to mount a challenge to the big two buy-to-let market players this year.

Sard was speaking to an audience of advisers at Derby County’s Pride Park and said that while The Mortgage Works and BM Solutions would continue to dominate, other players would challenge the pair this year.

“We have two big players, and they will remain the big players, but many smaller firms will try and get part of that business. I expect to see a market that is much more competitive and probably offering better rates.”

“I see opportunity in buy-to-let. The gross lending market is growing, but in buy-to-let it is in double digits for two years in a row. We expect it will grow again in 2013, we don’t think it will reach the levels of 2008 but it is going to be very big.”

 

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