The Intermediary – September 2026 - Flipbook - Page 22
In Profile.
Q&A
Marvin Onumonu sits down with Grant Hendry, director
of sales at Foundation, to discuss changing landlord
behaviour and the resilience of buy-to-let
H
aving spent nearly nine years
“At the same time, activity among professional
at Foundation, Grant Hendry
and portfolio landlords continues to grow, with
is responsible for sales across
investors taking a more strategic and considered
regulated and non-regulated
approach to their purchasing decisions.”
business, spanning specialist
Recent research from Pegasus Insight, produced
residential and buy-to-let (BTL) lending. He
in conjunction with Foundation, supports this
leads the sales team, overseeing Foundation’s
assessment. Landlords surveyed reported an
sales strategy and distribution relationships, and
average portfolio value of £1.8m, average gross
working closely with brokers operating throughout
rental income of £12,007 per property and average
the specialist lending market.
rental yields of 6.4%.
At present, Hendry’s primary focus is ensuring
Encouragingly, 86% said that they were making
a consistent and reliable intermediary
a profit, while only 5% reported that they were
experience. He says: “A big part of that
operating at a loss.
is staying close to changing landlord
Hendry says these figures demonstrate
behaviour and market trends, ensuring
the underlying strength of the sector,
we understand what brokers and
even if current market conditions cannot
borrowers need, and feeding those
be described as buoyant.
insights into the ongoing development
He adds: “There are challenges and
of our proposition.”
periods of volatility, but landlords
As borrower circumstances and
and lenders are becoming much
property investment strategies become
more accustomed to operating in this
more complex, Hendry believes lenders
environment. Confidence remains reasonably
must offer the breadth of products, criteria
strong, and demand for rental accommodation
GRANT HENDRY
and expertise required to support brokers.
continues to underpin the sector.”
He says: “That means continually
A more strategic landlord
developing solutions for more complex borrower
Demand appears strongest among experienced
circumstances, working closely with our
and professional investors, who are carrying
underwriting teams to ensure we are looking at
out more extensive research before making
the bigger picture, and maintaining the flexibility
purchasing decisions.
that brokers need.”
Hendry says: “Investors are taking a more
This includes further developing Foundation’s
holistic view of portfolio performance. They are
semi-commercial offering, while retaining the
evaluating not only income and yields, but also
specialist support, reliability and consistency its
factors such as capital growth potential, tenant
intermediary partners have come to expect.
demand, void periods and overall resilience.”
Resilience amid uncertainty
Geographical diversification is becoming an
Despite continued economic uncertainty and
increasingly important part of this approach.
significant tax and regulatory change, Hendry
Instead of limiting purchases to familiar
remains positive about the resilience of the buylocal markets, more landlords are assessing
to-let sector.
opportunities in different regions and across a
Although Renters’ Rights Act and increased
wider range of property types.
compliance requirements have generated
Hendry sees this as both a growth strategy
considerable discussion across the industry,
and a means of managing risk, particularly at a
landlord appetite has remained relatively strong.
time when local housing and rental markets can
Hendry explains: “Landlords have largely
perform very differently.
adapted to the current environment. We have
As portfolio structures become more
seen some softening among amateur landlords,
sophisticated, brokers increasingly require lenders
but that segment of the market certainly has
capable of understanding cases that fall outside a
not disappeared.
standard underwriting model.
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The Intermediary | September 2026
