Only 4% of mortgage brokers approved of the Spring Statement, according to research from buy-to-let lender Landbay.
The poll results, released today, reveal significant disappointment across the mortgage industry with the Chancellor’s latest fiscal announcements.
The survey, which specifically targeted mortgage brokers writing BTL business, found that 77% of respondents expressed dissatisfaction with Rachel Reeves’ Spring Statement. The straightforward question posed to participants – “Did you approve of the Spring Statement?” – revealed that alongside the 4% who approved, almost a fifth (19%) of brokers remained uncertain about their stance.
Rob Stanton, sales and distribution director at Landbay, said: “The findings highlight a sense of frustration among mortgage professionals, with only a small minority of brokers expressing approval. The significant percentage of brokers who remain uncertain suggests a need for greater clarity and some outright support from policymakers to address the challenges facing the sector.”
Stanton added: “The Spring Statement appears to have missed the mark for the vast majority of mortgage introducers, who are on the front lines supporting landlords and investors.
“At Landbay, we’re committed to listening to brokers and providing the flexible, competitive BTL solutions they need to thrive, regardless of the broader economic landscape. We’re here to work collaboratively to address these challenges and deliver for clients. We’re doing our bit. But we can’t operate in a vacuum: Government policy must also play its part.
“If Rachel Reeves is serious about growth, she needs to support small business owners like landlords as they look to turn a profit, not hound them out of the private rented sector.”
