An encouraging report from Paragon Mortgages has suggested that a large number of intermediaries are seeing constant or increasing demand from their landlord clients.
Pleasing
The company’s Financial Advisor Confidence Tracking (FACT) survey for quarter one of 2015 found that 91% of intermediaries see landlord demand as either growing or stable. Just 7% said that the demand was weak.[1]
Taking into account their views on of buy-to-let mortgage business, 53% of intermediaries felt that they expected stability in the next quarter of the year. 45% had more belief, saying that they expected more buy-to-let activity over the same period.[1]
Other data from the report showed that 23% of intermediaries’ business during the first three months of the year was buy-to-let, with 18% for first time buyers and 35% for remortgages.[1]
Stable
Director of Paragon Mortgages, John Heron, was left feeling encouraged by the findings of the report. He noted that, ‘we have been running our FACT survey with a panel of 2000 intermediaries since 1995, tracking key trends and views on the buy-to-let and wider mortgage markets.’ On this survey, he said that, ‘there were no great movements,’ but what is evident is, ‘intermediaries are feeling optimistic about the buy-to-let market. ‘[1]
Heron went on to say that, ‘following the results of the General Election, it will be interesting to see whether we see an increase in intermediaries’ case load as confidence increases in the wider housing market.’[1]
[1] http://www.propertyreporter.co.uk/landlords/brokers-report-strong-landlord-demand-in-q1.html