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Current issues in buy to let and the private rented sector


15 March 2016

Time: 9:00am – 4:35pm
Venue: The Roof Gardens, London
Price: £ members
Current issues in buy to let and the private rented sector

About this event

Feedback from attendees

"Very good quality event and content was very relevant to current BTL issues"

"Excellent well run event"

"Very informative and interesting. Excellent seminar"

"Excellent conference, very relevant to current legislation and mortgage market in general"

Download a list of delegate job titles from this event

Summary of event

Chris Springett, Web Editor, Council of Mortgage Lenders

The Roof Gardens in Kensington provided a striking setting for a timely discussion of the issues affecting the buy to let and private rented sector. 

The issue of hot spots to be built upon in the private rented sector was addressed, as there are clear areas that would appear to be suitable for newbuild properties, however there are factors that must be carefully considered during the process, including the price of available land and potential difficulties in dealing with local authorities. Builders must also be aware of housing densities, as various markets are at saturation point.

The issue of letting agents and right-to-rent checks was then discussed, as Right-to-rent will be rolled out in England across 2016 and will not only apply in England, but to the devolved governments in Scotland, Wales, Northern Ireland and London, when these are finalised, and some insight was provided into how landlords are reacting to this.

Andy Fahey at the Roof GardensOne of the potential causes for concern surrounding right-to-rent is that vulnerable tenants may find it difficult when right-to-rent is implemented. A right-to-rent check will take place for potential tenants, but there is a genuine danger of discrimination, in that landlords are likely to favour those tenants who have immediately available and recognised documentation.

It was pointed out, however, that the right-to-rent check is not a legal requirement and it will only be an offense if landlords rent to someone who has no right-to-rent. A potential cause for concern is the new immigration bill, which is going to introduce tougher penalties for landlords who rent to someone who does not have a right-to-rent. There will be a fast-track eviction process for those who tenants who do not have a right-to-rent and prison for landlords who are persistent offenders.  

The Mayor in London has been keen to support buy-to-rent, but the problem is that there is a huge supply and demand mis-match. Building and construction shortages, and inflation have also created real challenges for buy-to-rent.

The drivers of consumer behaviour were then discussed, with the point made that that there are many reasons why people rent on a long-term basis. People flit between jobs much more than they used to, plus the example was given that Europeans are more accustomed to renting, so may want to rent for a much longer period of time, rather than buying a home.

There is a demand for longer term tenancies and and an overwhelming desire from young people, to get onto the property ladder, as half of 22-29 year olds still live at home. 

Panel Session at the Roof GardensAn update was given from CML, confirming that there is no pressure from the FCA to introduce conduct regulation. On the subject of the Financial Services Trade Associations Review, it was confirmed that whatever the outcome of the member vote, the proposed new trade body must be able to speak for the industry, without having to go through any other party. 

The event continued with the point being made that the contemporary focus on home ownership is actually an interlude in in the history of housing, and in fact, more often than not in the past, the main dealings were with landlords. 

A Macro-prudential update was then provided, addressing the generally recognised need for macro-prudential regulation and that the aim of macro-prudential regulation is to reduce the risks that threaten the resilience of the financial system as a whole.

The event was rounded-off with a 'Question Time' style panel session, entitled 'What is next for the buy to let sector', with a variety of questions taken from the floor. 



0900 - 0930


The private rented sector

Registration & refreshments

0930- 0940


Welcome and introduction
John Heron, Managing Director, Paragon Mortgages 

0940 - 1010  

Chris Phillips, Chairman, Places for People

1010 - 1050  

Landlords: Current influences and future outlook

(1010 - 1030)  

Regulation, letting agents and ‘right to rent’ checks
John Stewart, Policy and Communications Manager, Residential Landlords Association

(1030 - 1050)  

What factors affect landlord demand?
Lucian Cook, Head of UK Residential Research, Savills (UK) Ltd

1050 - 1120  

Build to Rent
Ian Fletcher, Director of Policy - Real Estate, British Property Federation

1120 - 1150   Refreshments

1150 - 1210  

Drivers of consumer behaviour
Jennet Siebrits, Head of Residential Research, CBRE Ltd

  • What drives consumers to make the decision to rent or buy?
1210 - 1230  

Group discussion: Lenders, landlords and tenants

On your tables, discuss the issues relating to the tenant-landlord-lender relationship and good practice in buy-to-let lending. Fill in the worksheets you will find on your tables and the CML will release responses to your points to all delegates following the conference.

1230 - 1330  

Lunch & afternoon registration

Buy-to-let issues

1330 - 1350  

CML update
Paul Smee, Director General, Council of Mortgage Lenders

  • How is the CML’s work in buy to let progressing?
  • What is our data telling us about the market?
  • Update on the CML Statement of Practice
1350 - 1450  

Effects of tax changes

(1350 - 1405)  

What to expect and when?
Andrew Fahey, Director, PwC

(1405 - 1420)  

Understanding market impact perspective
Peter Williams, Departmental Fellow, University of Cambridge

(1420 - 1435)  

Intermediary perspective
Brian Murphy, Head of Lending, Mortgage Advice Bureau

(1435 - 1450)  

Lender perspective
John Heron, Managing Director, Paragon Mortgages

1450 - 1520   Refreshments

1520 - 1550  

Macroprudential update
Jon Saunders, Senior Policy Adviser, Council of Mortgage Lenders

1550 - 1630   

What is next for the buy to let sector? Panel session
Charles Haresnape, Group Managing Director – Mortgages, Aldermore Bank Plc
Bill McCabe, Managing Director Mortgages Transformation, Barclays
Peter Williams, Departmental Fellow, University of Cambridge
Bob Young, Chief Executive, Fleet Mortgages

1630 - 1635   Chair's closing remarks

1635   Conference close



Chair: John Heron

Managing Director, Paragon Mortgages

John Heron is Managing Director of Paragon Mortgages, part of the Paragon Group of Companies. He joined the Group in 1986 and was appointed to the board in 2003. He was instrumental in pioneering buy-to-let by working with ARLA in the 1990s to develop the concept and launched the first buy-to-let mortgages in 1995. The Group's buy-to-let operations include Paragon Mortgages, which specialises in providing mortgages to professional landlords and Mortgage Trust which caters for private investors with less complex propositions.

With around 40,000 landlord customers and balances in excess of £9bn, Paragon is a leading buy-to-let lender and continues to deliver competitive and innovative solutions for intermediaries and their landlord customers.  

John is also Chair of the Council of Mortgage Lenders buy-to-let panel and a board member of the Intermediary Mortgage Lenders Association, having previously held the position of Chair at IMLA and deputy chair of the CML. He is also Fellow of the Chartered Institute of Bankers

Lucian Cook

Head of UK Residential Research, Savills (UK) Ltd

Lucian Cook is one of the UK’s leading and most quoted commentators on the UK housing market. He edits The Residential Property Focus and has written extensively on the prime housing markets, proposals for the reform of the taxation of high value property, the demand for private rented housing and opportunities for institutional investment in the residential sector.

Lucian joined the research department in 2007 and is jointly responsible for formulating and presenting Savills views on the residential property and development land markets to a range of clients and journalists.




Andrew Fahey

Director , PwC

Andy Fahey is a director in PwC’s Global Mobility practice, focusing on the tax issues that impact on multi-national organisations as they move their employees around the world. One of the key areas in this regard is the changes to the UK tax landscape on housing and Andy has been providing specialist advice in this area in conjunction with PwC's real estate practice.

Andy leads large compliance teams in the UK, and has a proven track record of delivering a seamless compliance process for his clients that generates efficiencies and helps keep program costs under control.  He has worked in both the Big 4 and mid-tier firms, engaging with clients from a wide number of industry sectors, working collaboratively in pursuit of their objectives by bringing best practise and market trends through a personal hands on approach, always with a high regard for technical excellence.  Andy's specialties include tax compliance, expatriate tax advisory and tax planning, and value add compliance based innovation.

Ian Fletcher

Director of Policy – Real Estate, British Property Federation

Ian Fletcher is Director of Policy (Real Estate) at the British Property Federation (BPF) – the trade association for the property investment sector. Ian speaks for the sector and his team covers a wide range of housing, commercial property, planning and sustainability issues. He was a member of the Government’s Montague Review Group, which examined how to encourage greater institutional investment in rented housing.

Away from the BPF, Ian chairs the committee of management which regulates the quality of private student accommodation in the UK. He is also a board member of a for-profit registered provider and on the London Mayor’s Housing Forum. Ian was formerly Head of Policy and Chief Economist at the British Chambers of Commerce. He has also worked in banking and teaching, and holds professional qualifications in finance and market research, and is a honourary Fellow of the Institute of Residential Property Management. 

Charles Haresnape

Group Managing Director – Mortgages, Aldermore Bank Plc

Charles Haresnape joined Aldermore in January 2011 from Connells, one of the UK’s largest estate agency groups, where he was Group Mortgage Services Director. Prior to this he was responsible for intermediary mortgage lending at both NatWest and RBS and in addition was responsible for the branch mortgage sales force within NatWest.

He has over 30 years lending experience, primarily within the Residential Mortgage industry as a lender, a broker and within estate agency financial services. He has also held roles for a number of other household names in the banking and building society sectors, including Nationwide and HBOS.

Charles is currently on the executive committee of the Intermediary Mortgage Lenders Association (IMLA) having previously held the position of Chairman for two years. In addition to this Charles is an Executive Committee member of the Council of Mortgage Lenders (CML), having previously been Deputy Chairman. He is also an Associate of the Chartered Institute of Bankers and a holder of CeMAP.

Bill McCabe

Managing Director Mortgages Transformation , Barclays

Bill McCabe  is currently MD Mortgages Transformation at Barclays, Bill McCabe has forty years’ experience in financial services including the Australian, UK and South African mortgage markets. His experience covers commercial/small business and mortgage markets and includes industry awards for product development in mortgages, small business lending and margin lending. 






Brian Murphy

Head of Lending, Mortgage Advice Bureau

Brian Murphy’s career spans over twenty eight years within retail financial services predominantly within the estate agency environment. Previous employers include Prudential Property Services, Black Horse Agencies and Bradford & Bingley where he undertook a variety of management roles in sales, products, marketing and operations.

At Mortgage Advice Bureau, the largest mortgage broking operation of its kind, his responsibilities include managing external relationships with mortgage product providers, business development, surveys, PR and commentary to the media. 





Chris Phillips

Chairman, Places for People

Chris Phillips is the non-executive chairman of Places for People Group, London & Newcastle, Horizon Infrastructure Partners and is a member of the Octopus Health Care Advisory Board.  During his career he has held senior positions in companies involved in finance and the property sector as well as chairing both listed and private companies.


Jon Saunders

Senior Policy Adviser , Council of Mortgage Lenders

Jon Saunders joined the Council of Mortgage Lenders in 2012 having previously worked as an investment banker in debt capital markets for a variety of investment banks.  At the CML he is responsible for policy issues on funding and capital.  He graduated in 1992 with a first class honours degree from Loughborough University in Banking and Finance and in 2011 graduated from Birkbeck, London University with a MSc in Sports Management.  






Jennet Siebrits

Head of Residential Research, CBRE Ltd

Jennet Siebrits has been Head of Residential Research since June 2005. She is an experienced housing market economist having held positions at the Council of Mortgage Lenders and Nationwide Building Society.

She oversees all analysis, research and publications. In addition, she has extensive experience of consultancy for clients in a wide range of areas including demand and supply studies, cost benefit analysis and economic impact studies. 





Paul Smee

Director General, Council of Mortgage Lenders

Paul Smee became Director General of the Council of Mortgage Lenders on 1 August 2011. Previously, he was Chief Executive of UK Payments, a post which he held for six years.

Paul set up, and was the first Chief Executive of the UK Payments Council, which sets strategy for collaborative payments in the UK. He was very involved with the introduction of the Faster Payments Service in 2008, the first new payment system in the UK for 25 years; and in the production of the UK’s National Payments Plan.

Before payments, Paul was the first Director General of the Association of IFAs, the representative body for the community of independent advisors which was formed in 1999. He also was instrumental in the formation of the Association of Mortgage Intermediaries. 

During his earlier career, Paul worked for the London Stock Exchange, the Association of British Insurers and the Independent Television Commission. He started his working life at the Department of Trade and Industry. 

John Stewart

Policy and Communications Manager, Residential Landlords Association

John Stewart joined the Residential Landlords Association as Policy and Communications Manager in 2014, from Manchester Pride, the charity that organises the city’s annual LGBT festival. He has over 20 years experience of working in politics, as a successful election agent, office manager for an MP, and as a local councillor.

John was Leader of Aberdeen City Council form 2009-2011, undertaking a major reorganisation of the authority in response to cuts, having identified the need for £127 million of savings as part of a 5 year business plan. He has also chaired the council’s Audit, Planning and Finance Committees.


Peter Williams

Departmental Fellow, University of Cambridge

Peter Williams is Executive Director of the Intermediary Mortgage Lenders Association and a Departmental Fellow, Department of Land Economy, University of Cambridge. He was previously Director of the Cambridge Centre for Housing and Planning Research, Deputy Director General of the Council of Mortgage Lenders and Professor of Housing at the University of Wales, Cardiff.  He is currently on the board of The National Housing Federation and Chair of URL, a planned ‘for profit’ housing association.  




Bob Young

Bob Young is Co-Founder and Chief Executive Officer of Fleet Mortgages, a new specialist mortgage lender operating in the buy-to-let market. He was Managing Director of CHL mortgages for more than 10 years having operated as Sales and Marketing Director since 1997. He has been in Financial Services in a variety of roles spanning 40 years, and has experience as both an intermediary and as a lender.

In the past, Bob has worked as a Senior Manager with Black Horse, Abbey National and as a Business Consultant with a variety of Blue Chip Financial Services providers on a range of topics from strategy, sales and marketing to operations. He is also a highly qualified trainer and has in previous careers run both ‘in-house’ and public sales and management training programmes.

Headline sponsor


Paragon is a leading specialist lender of buy-to-let mortgages to landlords and residential property investors in the UK, a loan servicing provider for third party clients and an active acquirer of loan assets and portfolios and has most recently established a banking subsidiary, Paragon Bank. Paragon has £10.5 billion of loan assets under management. Since being established in 1985, it is the only specialist lender to maintain an independent position within the UK mortgage market.


Following the event, John Heron, Managing Director of Paragon said:

As the main sponsor and chair of the recent CML buy-to-let conference, this event was the perfect platform for Paragon. The communication and support from the CML team was perfect . They sourced an excellent range of speakers and provided a superb venue offering suitable refreshments. The day provided good networking opportunities and we valued the post event delegate experience shared with us






The Roof Gardens

99 Kensington High Street
W8 5SA

Nearest tube stations:

High Street Kensington (District and Circle lines)

Nearest overground station:

Paddington (Connects to District and Circle lines)

Event resources

This presentation below is available for download by attendees of this event only.

Contact us

Laura Marshall

Telephone: 0845 373 6771

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