Insurance News Archive

Buy to let rise predicted for property owners

The managing director of Mortgages for Business has claimed that he expects to see increased numbers of property owners to be offered buy-to-let mortgages with product numbers set to rise.

David Whitaker believes that buy to let mortgage numbers will increase primarily because it is a subset of the entire market. This, he felt, meant that it was in a prime position to see levels rise.

He did, however, suggest that the rise may just be re-establishing its position prior to the slump.

Mr Whitaker said: "Historically, it ran at about 13 per cent of the market, but dropped as low as eight and a half or nine per cent of the market in 2009, so you could say that all it is doing is re-establishing its status quo."

It was recently announced that Paragon Mortgages won the prestigious 'best buy-to-let portfolio lender' title at the Your Mortgage 2011-12 Awards.

07 Dec 2011