Landlord remortgaging activity falls, says Paragon Mortgages
www.moneynews.co.uk > Mortgages > Landlord remortgaging activity falls, says Paragon Mortgages
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Money News |
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Landlord remortgaging activity falls, says Paragon Mortgages
Mon 30th Nov 2009
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Meanwhile, the number of landlords obtaining buy-to-let mortgages for portfolio expansion rose to 48 per cent in the third quarter of 2009.
This is the highest level seen since the information was first collated by Paragon Mortgages in 2001.
Managing director of the financial services provider John Heron suggested the reason behind the low remortgaging level could be a lack of choice available.
"As house prices have stabilised, landlords now obviously believe that it is a good time to start expanding before house price inflation picks up again," he continued.
Paragon Mortgages obtained the data from its Financial Adviser Confidence Tracker Index, which surveys a panel of mortgage brokers every year.
According to the Land Registry, the average house price in England and Wales increased by 0.6 per cent in October to £159,546.
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