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Intermediaries forecast ‘increased BTL business over the next 12 months’

The mortgage industry is predicting a 1% increase in buy-to-let business in the next 12 months, according to Paragon’s latest Financial Adviser Confidence Tracking (FACT) report. 

The data revealed that buy-to-let reached 17% of business in the third quarter of the year, which is up 2% quarter-on-quarter. 

The study also found that first-time landlords increased to 13% of buy-to-let business completed in Q3, whilst remortgaging rose from 55%.

In addition, the proportion of landlords raising finance with a view to adding to their property portfolio dropped, accounting for 20% in Q3 2019. 

John Heron, director of mortgages at Paragon, said: “After a number of years of instability and negative sentiment in the buy-to-let market, it’s encouraging to see mortgage intermediaries forecasting increased buy-to-let business over the next 12 months.

“However, the market overall has been constrained by the current Brexit uncertainty and it remains difficult to see exactly when this will end.”

Poll: Do you think mortgage intermediaries will see increased buy-to-let business over the next 12 months?

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