Have Paragon Mortgages Cornered the Buy to Let Market?

06 January 2012 Categories: News

Have Paragon Mortgages Cornered the Buy to Let Market?

The first week of the New Year has so far seen many financial and property market ‘experts’ predict that 2012 will be much like 2011 in respect to the private rental property market. That is, they seem to think that although rents will rise steadily, buy to let landlords will stick to the portfolios they have rather than risk expanding and losing everything.

The buy to let mortgage specialist, Paragon Mortgages, sees the future differently though and has emphasised their faith in the current buy to let market by releasing not one, not two, but 50 new buy to let mortgage products…all with slightly less stringent eligibility criteria than their previous products.

Forty four of the 50 new products have apparently been designed with the professional landlord in mind. Some offer higher lending amounts while others have more attractive LTV figures. All 44 make borrowing that little bit easier and Paragon Mortgages that little bit more attractive than other mortgage lenders.

The other 6 new mortgage products have been released under Paragon’s Mortgage Trust brand and are aimed at attracting small scale and new buy to let landlords.

Whether Paragon’s bold move to corner the buy to let mortgage market will work remains to be seen, but at the very least it shows that some lenders have more faith than ever in the possibilities of the private rental market.