Paragon discusses buy to let mortgage market
www.moneynews.co.uk > Mortgages > Paragon discusses buy to let mortgage market
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Money News |
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Paragon discusses buy to let mortgage market
Fri 25th Feb 2011
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Nigel Terrington, a representative from the company, highlighted how the recent Communities and Local Government English Housing Report showed the extent to which the market has grown.
The document indicated the number of houses rented privately has increased by one million from 2005-06 to 2009-10.
Mr Terrington said: "The sector's importance to UK housing continues to grow as increasing numbers of people [are] opting to rent privately rather than step on the housing ladder."
He noted that this situation is leading to inflation that is pricing many buyers out of the market.
In his view, lenders must respond by offering more buy to let mortgages.
This week, Paragon announced that such property finance options accounted for 20 per cent of the business dealt with by brokers in the fourth quarter of 2010.
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