View more on these topics

Advisers report increase in buy-to-let finance availability

Almost two-thirds of intermediaries – 64 per cent – believe the availability of buy-to-let finance has improved during the past three months, according to new research from Paragon Mortgages.

Just 8 per cent of intermediaries felt that the availability of buy-to-let finance had deteriorated.

On average, intermediaries conducted 5.4 per cent more buy-to-let business in the second quarter than in the first quarter.

Paragon says 47 per cent of buy-to-let mortgages processed by intermediaries in the second quarter were for landlords looking to increase their current portfolios, increasing from 43 per cent in Q1.

Mortgages for first-time landlords totalled 21 per cent in Q2, up from 18 per cent in Q1. The proportion of remortgages fell during Q2 to 28 per cent, from 35 per cent in Q1.

Paragon Mortgages managing director John Heron says: “Government statistics just released indicate that more than 17 per cent of English property is now in the private rented sector. All of the market indicators, however, suggest that there is still not enough property for new tenants.

“Better availability of buy-to-let finance, particularly for professional landlords, is critical to the expansion of the supply of rental property. It is, therefore, good to see that this is starting to come through.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com