Paragon predicts improvement in buy to let mortgage sector

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Paragon predicts improvement in buy to let mortgage sector

Access to buy to let mortgage finance could be set to improve in 2011, according to Paragon.

Chief executive of the firm Nigel Terrington suggested the issue of funding is one that is likely to be important to landlords in the coming year.

In his view, the situation will probably improve, adding: "It is expected that we will see a number of new lenders enter the buy-to-let market in 2011."

But Mr Terrington warned against the market becoming overcrowded, with too many small lenders competing against each other.

He suggested the vital ingredient in such a situation is product innovation.

The Paragon representative noted that the number of finance deals and lenders has improved in 2010 and gross lending advances are predicted to be about ten per cent higher than during the previous year.

Last month, the company highlighted how buy to let transaction figures from the Council of Mortgage Lenders look encouraging for the industry.

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