Role of buy-to-let sector to increase?

Posted: 24 Feb 2011 11:09:32 GMT

The fourth quarter of 2010 has seen brokers gain more business from buy-to-let customers.

New statistics show that more people may be turning to the buy-to-let sector when considering accommodation options.

Figures released by Paragon Mortgages revealed 20 per cent of business by intermediaries was taken by those dealing with buy-to-let, the highest proportion of market share since 2007.

The results indicate a recovery in the sector, with residential mortgage business among brokers dropping from 76 per cent to 71 per cent in the same three-month period.

John Heron, managing director at Paragon Mortgages, said: "Buy-to-let is clearly an important source of business for the broker community and, given the growth in tenant demand and expected expansion of the private rented sector, it can play an even greater role going forward."

Paragon also recently published figures which revealed that demand in the property sector for rented homes hit a two-year peak in the final quarter of 2010, showing no sign of slowing down.
 

© Houseladder Ltd