Landlords 'focusing on family homes'

Posted: 07 Sep 2011 14:19:21 GMT

Paragon Mortgages research has revealed family homes are growing in popularity among buy to let investors.

Buy to let landlords are turning their attention to purchasing larger properties in response to the growing number of families looking to rent accommodation.

This is according to research from Paragon Mortgages, which showed 41 per cent of landlords intend to purchase semi-detached houses in the third quarter of 2011, up from 28 per cent in the second quarter.

Detached properties are the target for 22 per cent of investors - rising from nine per cent in the previous three-month period - and Nigel Terrington, chief executive of the mortgage lender, noted families are increasingly showing an interest in the private rented sector (PRS).

"I think over the next few years we will see more families making use of the flexibility and affordable accommodation that the PRS provides," he remarked.

The firm was established in 1995 and now supplies one in ten buy to let mortgages to investors operating in the PRS.
 

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