Buy-to-let takes larger share of market, Paragon Mortgages reveals

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Buy-to-let takes larger share of market, Paragon Mortgages reveals

Fri 7th Jul 2006

Buy-to-let investments now make up 14 per cent of mortgage deals handled by advisors, according to new research into borrowing trends by Paragon Mortgages.

The research also shows that this figure has risen by eight per cent since June 2001 and the figure for buy-to-lets was at ten per cent only 18 months ago.

Mortgage advisors have revealed that they expect to do as much as seven per cent more business in the next financial quarter due to the continued increase in customers borrowing with the intention of renting out their property.

John Heron, managing director of Paragon Mortgages, said: "Financial advisers have benefited from the buoyancy of buy-to-let, particularly over the past 12 months.

"The proportion of advisers' business represented by buy-to-let is higher than it has been for many years," he added.

Paragon is a buy-to-let mortgage specialist, the company began targeting this area of the market in 1995.

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