The residential buyers market is shrinking as more people are choosing to rent, and the current market has the lowest proportion of owner occupiers for at least the last 20 years.
Many estate agents are choosing to diversify and offer a letting service in order to increase revenue as property sales just aren’t generating the level of income they once did. However one of the UK’s biggest buy to let lenders is set to re-enter the market after 18 months and is aiming to write up to £1bn per year of new mortgages. This may lead to increased sales of potential buy to let properties and agents will also be able to offer letting services to maximise the potential earnings from each client.
The business model of a lot of Estate Agent has changed because it is becoming harder to win business. As professional indemnity specialist brokers we can help by ensuring that you are fully covered to comply with your regulatory bodies and provide some of the best premiums available.
Many estate agents and letting agents insure their businesses through us as we can provide some of the most competitive rates in the market. We have secured excellent rates to provide some of the best prices and cover for PII available.