25 Jan

Lenders could see buy to let 'bounce' in 2011

Lenders could see buy to let 'bounce' in 2011

Buy to let owners could see an increase in business this year, meaning more property to rent in the UK.

Almost half of mortgage brokers expect to see an increase in buy to let business in 2011, according to research from Paragon Mortgages.

In addition, the final quarter of 2010 saw a 51 per cent improvement in mortgage availability for buy to let properties.

John Heron, Paragon Mortgages' managing director, said: "We are clearly now in a more buoyant phase for the buy-to-let market.

"As approximately nine out of ten buy-to-let mortgages are introduced via intermediaries, it is extremely encouraging that nearly half of brokers expect to increase business levels in 2011."

More landlords are trying to benefit from "excellent levels of tenant demand", he added.

Nationwide mortgage provider the Mortgage Works (TMW) recently enhanced its buy to let mortgages.

First-time-landlord deals with two-year fixed rates and a fee of £995 are available.ADNFCR-1222-ID-800363106-ADNFCR

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