Buy to Let Mortgage Market Remains Strong say Intermediaries

10 November 2012 Categories: News

Buy to Let Mortgage Market Remains Strong say Intermediaries

According to the latest quarterly FACT survey conducted by buy to let mortgage specialist, Paragon Mortgages, intermediaries around the country are happy to admit having a positive outlook with regards to the buy to let industry. Many of the intermediaries questioned also admitted to being cautious with regards to the mortgage market in general, and particular where it concerns mortgage applications from first-time buyers.

When asked about Quarter 3 in particular, over 35% of the intermediaries that answered said that the availability of buy to let mortgage finance had improved when compared to the previous quarter. Another 45% said they hadn’t noticed an appreciable difference and just 17% said they considered buy to let finance harder to come attain in the last quarter.

John Heron, managing director of Paragon Mortgages, commented on the findings of the survey saying, “Intermediaries have reported on an interesting quarter. Whilst business in some areas of the mortgage market such as buy to let has been growing, others are relatively stagnant and intermediaries appear cautious about the coming months.

“We are likely to continue to see buy to let cases increasing at a steady level but I suspect that cases handled by intermediaries for first-time buyers will remain limited.”