Keystone predicts B2L arrears will keep falling

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Keystone Property Finance predicts 2016 buy-to-let arrears rates will continue falling.

The firm expects arrears to fall to 6,600 in Q4 from 9,300 in Q1.

Buy-to-let arrears were 11,300 in Q1 2015.

Around 8,500 buy-to-let mortgages were in arrears in Q2 this year.

Keystone managing director David Whittaker says: “The referendum result was unexpected, the precise impact is unknown, and it is still rather early to tell what will happen.

“But we have seen no let-up in demand for buy to let mortgages and we don’t expect to see any change in the downward trend in buy-to-let arrears as a result.

“Landlords are confident – and lenders have no reason to feel any differently.”

Keystone says its funding lines are still open.

Whittaker adds: “There are many landlords out there who still need finance, particularly professionals who are in the process of remortgaging to secure a solid five year fixed rate or selling their personally-owned portfolios to their limited companies.

“We have ensured Keystone has the funding lines in place to provide landlords with the solutions they need and in the four weeks since the vote we have forged ahead with our lending.

“We are increasing traction with brokers and investors. Optimism is the keyword here.”