More buy-to-let mortgages available, says Paragon

Date:Tuesday 2nd November 2010
Author: Susanna Kavka

A representative from Paragon has claimed that landlords can expect to find more buy-to-let mortgages available.

John Heron, managing director of the company, stressed the market has still not reached the heights of its peak in July 2007, but it is on the way up.

In his view, the return of Paragon to the professional landlord lending market is an example of why there are more products available.

He also highlighted the improved outlooks of brokers as a positive sign, with the company's Financial Adviser Confidence Tracker showing 43 per cent of intermediaries believe access to finance has improved in the third quarter.

"The number of buy-to-let mortgages has been rising in recent months as lenders come back to the market or new lenders are launched and criteria has also improved slightly," said Mr Heron.

Last month, the firm claimed landlord confidence has been growing for a while and they will begin to expand their portfolios as the availability of funding opens up.