Professional UK landlords are dramatically increasing their portolios

Landlord Expert
By Landlord Expert October 13, 2010 14:15

Some 33 per cent of buy-to-let mortgage business was for remortgaging purposes.

First-time landlords accounted for 16 per cent of buy-to-let business, with property substitution accounting for the remaining 3 per cent.

Nigel Terrington, chief executive at Paragon Group, claimed that landlord confidence has been building for some time and, as mortgage availability starts to widen, they are taking the opportunity to expand their portfolios.

He said: "There have been a number of new lenders come to the market and, of course, Paragon has also recently resumed lending in the buy-to-let sector. This can only create some much needed competition and innovation and widen investment opportunities for landlords.

"The fact that nearly half of buy-to-let business during the period was for experienced landlords to expand their portfolios is encouraging because it is this group of landlords who will drive the growth of the market.

"With the growth of tenant demand showing little sign of slowing, the UK needs more properties in the private rented sector to help keep pace."

Landlord Expert
By Landlord Expert October 13, 2010 14:15

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