More landlords planning property purchases

by Christopher Evans

The number of buy-to-let landlords planning to add to their property portfolios has risen sharply in recent months, according to a new survey.

Paragon Mortgages found that 21 per cent intend to buy property during the third quarter of the year.

By comparison, just 12 per cent planned to make property purchases in the second quarter and 11 per cent intended to do so in the first.

Terraced housing is proving the most popular among landlords, with almost three-quarters looking at this type of property.

However, despite the increased demand, landlords are still struggling to turn their purchasing ambitions into reality.

The survey showed that over half of those who tried to secure buy-to-let finance during the second quarter of the year found it more difficult than previous attempts.

Some 46 per cent of those questioned said they would be encouraged to expand their property portfolios if there was an improvement in mortgage availability.

John Heron, managing director of Paragon Mortgages, said: "There remains a dislocation between landlords' desire to purchase property and their ability to do so."

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Published on: June 24, 2010

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