Paragon buy to let mortgages welcomed by property expert
www.moneynews.co.uk > Mortgages > Paragon buy to let mortgages welcomed by property expert
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Money News |
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Paragon buy to let mortgages welcomed by property expert
Fri 1st Oct 2010
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Chris Horne, editor of Property Hawk, claimed the biggest issue facing landlords currently looking for finance is the high level of fees being charged.
He suggested the presence of Paragon could go some way towards making the industry more competitive and perhaps seeing costs come down.
However, he stressed the addition of one extra lender is unlikely to radically alter the sector.
In his opinion, many lenders are enjoying "very high margins" in the buy to let mortgage industry and these profits are attracting more companies.
"An additional lender coming back into the market is always welcome. There have been a lot of lenders that have exited the market," he said.
These remarks follow the news that Paragon is targeting professional landlords in its goal of achieving a market-leading position in the buy to let mortgage sector, with several specialist products set to be launched.
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