Landlords 'wary of portfolio expansion'

Posted: 19 Oct 2011 09:46:08 GMT

People are not looking to commit to more properties in the current economic climate.

Some landlords are unwilling to expand their portfolios at the moment, according to one expert.

David Whittaker, managing director at Mortgages for Business, said there is a degree of caution, despite the fact it is easier for them to get a mortgage.

"You have some that are positive and are moving forward and you have some that are holding back to see what happens in the world at large," he added.

Mr Whittaker continued by saying property owners in the north-west may be reticent to commit to more homes because so many people in this area are employed by the government.

He stated there is a choice for people to engage in the market if they want to.

However, recent research by Paragon Mortgages has found buy-to-let mortgages are on the increase.

The third quarter saw a 3.1 per cent rise, with 43 per cent of intermediaries reporting a hike in activity levels during this period.
 

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