Just 4% of mortgage brokers approved of the Spring Statement, which committed £625 million to construction funding while cutting benefits.
Some 77% brokers expressed dissatisfaction with the announcements made by Rachel Reeves, research from Landbay has revealed.
Rob Stanton, sales and distribution director at Landbay, said: “The findings highlight a sense of frustration among mortgage professionals, with only a small minority of brokers expressing approval.
“The significant percentage of brokers who remain uncertain suggests a need for greater clarity and some outright support from policymakers to address the challenges facing the sector.
“The Spring Statement appears to have missed the mark for the vast majority of mortgage introducers, who are on the front lines supporting landlords and investors.
“At Landbay, we’re committed to listening to brokers and providing the flexible, competitive BTL solutions they need to thrive, regardless of the broader economic landscape.
“We’re here to work collaboratively to address these challenges and deliver for clients. We’re doing our bit. But we can’t operate in a vacuum: government policy must also play its part.
“If Rachel Reeves is serious about growth, she needs to support small business owners like landlords as they look to turn a profit, not hound them out of the private rented sector.”
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