Landlords pick buy-to-let in order to grow portfolios
Landlords are increasingly turning to buy-to-let mortgages in order to grow their property portfolios, according to the Paragon Mortgages quarterly FACT survey.
Intermediaries have reported a rise in the number of landlord clients applying for buy-to-let mortgages. Among those who participated in the second quarter survey, 44 per cent said the applications were in order to grow their portfolios.
This represents a 4 per cent increase on the first quarter of the year and the highest level recorded in the past 12 months.
The managing director of Paragon Mortgages John Heron says: “Levels of buy-to-let mortgage business are healthy at the moment, but could be better. The market is still being affected by the wider financial markets and factors such as the Eurozone.”
“However, we have made great strides in recent months and it is encouraging to see the percentage of landlords expanding their portfolios increasing.”
Read the full story at Mortgage Strategy
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