Paragon Mortgages highlights market confidence

Date:Wednesday 4th August 2010
Author: Susanna Kavka

There is a degree of confidence in the property market, according to an expert from Paragon Mortgages.

John Heron, managing director of the firm, explained that brokers appear to be confident about the short-term future of the home finance sector.

He went on to say that August is traditionally a quiet month for this type of transaction, but the following month should see figures "bounce" back up again, since people are likely to be back from their holidays.

"The third quarter is always a strange period in the mortgage calendar, because it contains strong seasonal anomalies," said Mr Heron.

His comments were made after the Paragon Mortgages Financial Advisor Confidence Tracker survey showed professionals in the industry expect a 7.2 per cent increase in business during this period.

Last month, the same company revealed that less than one per cent of home finance transactions was made up of self-certification loans in the second quarter of the year.