Paragon suggests buy to let mortgage holders hold strong position

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Paragon suggests buy to let mortgage holders hold strong position

Wed 5th Jan 2011

Buy to let mortgage holders can be confident about their prospects for the coming 12 months, according to Paragon.

Nigel Terrington, chief executive of the group, pointed out that the lack of finance currently being seen in the UK is forcing people who might otherwise have tried to buy into renting a property for the time being.

He said: "Landlords are in a strong position. Tenant demand has risen faster than supply during 2010 and that is expected to continue well into 2011."

Mr Terrington highlighted research carried out by Paragon indicating 41 per cent of buy to let mortgage holders intend to increase rents over the course of the year.

In his opinion, this reflects the confidence of landlords and the level of their expectations regarding how much they can charge.

This situation follows on from figures reported by the Council of Mortgage Lenders last year showing a 12 per cent increase in buy to let gross advances for the third quarter of 2010.

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