Green products and growth: reviewing Buy-to-Let in 2021 and previewing 2022
As we approach the end of the year, we’ve asked some key figures at LendInvest to look back on the year they’ve had and preview the year ahead, reflecting on the evolving market and what LendInvest will have to offer in 2022. Buy-to-Let director, Andy Virgo, walks us through the past year and beyond.
What were the market challenges for you and your team?
Starting in another lockdown in January meant we carried many of the challenges from 2020 into this year, with the mental and logistical problems caused by remote working still apparent. However after months of practice we had gotten quite used to providing the best Buy-to-Let proposition to our brokers in these circumstances. While not being able to meet with intermediaries for months was a disappointment, we kept connected through virtual (and eventually physical) events and meetings before we could see one another again.
What were the successes? Delivering significant growth in the number of products available to landlords promoting choice and ultimately driving market share for LendInvest both stand out.
Promoting the new EPiC range and a move into a new area of lending in the form of Holiday Lets were milestones in our growth.
What is the thing you are most proud of? The continued strong growth of the loan book and the teamwork that contributed to the enhancement of the BTL proposition in the eyes of landlords and brokers alike. When I reflect on the number of applications being received each week, it’s incredible to think we are only 4 years into our Buy-to-Let journey.
Looking ahead to 2022
What do you expect the market to look like in 2022?
Plenty of focus on products that incentivise or reward landlords for minimising emissions or maximising efficiency of their BTL portfolio as we draw ever closer to the 2025 EPC deadline.
What might the challenges be?Well it certainly won’t be issues with funding or support from across the business, nor a lack of focus, energy or desire to further enhance our tech for the good of applicant and broker alike.
I don’t think Landlords will be taking the year off either as they venture into new asset classes, grow and/or incorporate portfolios or consolidate ready to attack when the time is right. As a lender, it is our job to match those ambitions with the right products and incentives.
What’s one thing you hope to achieve?
To continue on our journey towards being firmly considered as the broker/landlord BTL Lender of choice and to continue to innovate via new products, criteria and service.