Insurance firm offers help to brokers - buy to let mortgages

31 October 2008

Businesses offering buy to let mortgages must adapt to survive the current economic conditions, it has been suggested.

Legal & General has stated that mortgage networks must "rapidly evolve" if they are to stay afloat during the slowdown.

The insurance firm is offering extra support and bespoke training to mortgage brokers to help them through these "difficult" times.

It is hoped that the measures can help intermediaries to build confidence and meet customers' needs.

Managing director of intermediary distribution Duncan Crocker said: "These businesses are looking to secure their futures by giving advice, especially to existing clients, across a much broader range of mortgage-related protection."

The insurer suggests offering customer incentives to help boost the mortgage market.

Meanwhile, the Royal Institution of Chartered Surveyors has predicted that a potential 50 percentage point cut in interest rates could alleviate some of the pressure on buy to let landlords.