Sesame and PMS Mortgage Club have launched a referral service to help advisers handle portfolio buy-to-let enquiries.
The service lets Sesame and PMS members refer clients to portfolio buy-to-let specialists 3mc and Mortgages for Business.
These firms will then give full advice and a recommendation.
Sesame and PMS head of relationship management Jane Benjamin says: “It has become clear that lenders are interpreting the new PRA rules regarding portfolio landlords in different ways, which is creating real challenges for mortgage advisers.
“In an increasingly complex area of the market, our latest initiative provides a solution for those advisers who would prefer to refer their buy-to-let portfolio business.”
Mortgages for Business chief executive David Whittaker says the new PRA rules are creating challenges for lenders and brokers.
He adds: “This new service will remove a burden from the shoulders of brokers who only occasionally deal with portfolio landlords, whilst still enabling them to generate a worthwhile income stream and retain ownership of their client relationship.”
3mc director Doug Hall says: “Dealing with portfolio landlords may only be a small part of many brokers’ business activities and this referral service means they don’t need to worry about remaining up to date with subtle differences between lenders buy-to-let products and procedures.”