Broker referral portal SortRefer has seen a 53% increase in the number of standard buy-to-let remortgage conveyancing quotes issued in the period since the pension reforms introduced on 7 April 2015.
Meanwhile, SortRefer’s new bespoke buy-to-let referral service has also saw a 21% rise in buy-to-let purchase quotes issued, as well as 12% growth in instructions.
Buy-to-let remortgage figures show instructions to have risen by 18% on standard remortgages and 26% on fixed prices remortgages. Overall registrations are also reported to have grown by 29%.
Kevin Tunnicliffe, managing director of SortRefer, said: “There has been much speculation in and around the industry regarding how pension reforms will affect the buy-to-let sector and when analysing these interim results it appears that there has already been a large degree of interest registered.
“We expect this momentum to continue and as always it will be proactive intermediaries who remain in pole position to help greater numbers of clients make the most of these relaxations on lump sum withdrawal rules. And when aligned with the right conveyancing service this can make a real difference in getting deals completed quickly and efficiently to make the most of some favourable market conditions.”
