Paragon Mortgages: Private rented sector flourishing

www.moneynews.co.uk > Mortgages > Paragon Mortgages: Private rented sector flourishing

Paragon Mortgages: Private rented sector flourishing

Wed 2nd Aug 2006

Landlords are becoming increasingly interested in the private rented sector because of the "steadily rising" demand for rented accommodation, according to Paragon Mortgages.

The latest buy-to-let figures from Paragon have shown that average rents on residential investment properties have increased by 3.48 per cent in the last three months, which represents a significant increase.

Additionally, investment property values continue to "edge-up", as the figures for June were 7.29 per cent up on the same time in March this year.

John Heron, Paragon Mortgages managing director, commented: "Demand is growing, with more single person households, higher numbers of students as well as the effect of immigration."

"Long term trends in terms of household formation and inward migration point to a steady growth in the role of the private rented sector in meeting people's housing needs and investors are responding to this by increasing their involvement proactively," he added.

Paragon provides specialist buy-to-let mortgages and was declared 'buy-to-let lender of the year' at the Business Finance Awards in 2002, 2003 and 2004.

Related News : Mortgages
	Brits 'failing to grasp the importance of an interest in mortgages'
	BBA highlights mortgage lending growth
	Are interest-free mortgages a bad idea?
	Buy-to-let mortgages are 'more profitable'
	House price performance to impact lenders' criteria
	More Brits 'to choose long-term mortgages'
	Offset mortgages 'are the future'
	UK house prices 'set to fall'
	Hybrid mortgages 'are a good deal' for FTBs
	UK public expects house price increase