Landlords’ views on buy to let finance in the UK more positive, survey shows
UK landlords’ perception of the availability of buy to let finance is now at the highest it has been since the economic downturn, according to a new quarterly survey.
The latest survey from specialist buy to let lender Paragon Mortgages shows that in the first quarter of 2014 almost half of landlords, 44%, felt that finance was readily available.
This is a 2% increase on the fourth quarter of 2013 and the highest level reached since the question was first asked in 2010.
Landlords’ views on the availability of buy to let mortgage finance have steadily become more positive, particularly during the last 12 months. Survey results show that confidence was at its lowest point during the first quarter of 2011 when just 17% of landlords thought that finance was widely or reasonably available.
‘The availability of buy to let finance is vital to a healthy and competitive private rented sector. As the market has recovered we have seen the general improvement in confidence reflected in how landlords are feeling about the availability of buy to let finance,’ said John Heron, Managing director of Paragon Mortgages.
‘Just to put this in further context, Moneyfacts data shows that at the lowest point there were less than 200 products available however, the latest figures show that there are now more than 500,’ he pointed out.
‘As we progress through 2014 I believe we will continue to see further growth in the private rented sector, greater confidence in buy to let lending and more innovation from buy to let lenders,’ he added.