Christmas present for buy to let investors
Buy to let investors can enjoy a festive gift from Paragon Mortgages this December, which is available through our advisers.
Paragon are offering free valuations on all applications received before 31 December 2012, allowing intermediaries like us to pass on savings to landlords who are hoping to expand their buy to let portfolios by the end of the year.
The deal, which was announced on 10 December 2012, is available across all Paragon Mortgages and Mortgage Trust brands. Paragon Mortgages is the specialist buy to let provider of the Paragon Group of Companies; Mortgage Trust is a member of the Paragon Group who specialises in simpler products tailored towards landlords with smaller portfolios or single properties.
When announcing the deal the managing director of Paragon Mortgages and Mortgage Trust, John Heron, cited the company’s trend research, which shows that 16% of landlords want to expand their portfolios in the fourth quarter of 2012. He said:
“With Christmas just around the corner we are extending this special offer to intermediaries to help them pass on savings to their landlord customers… (We) hope that this exclusive offer is the perfect present!” John Heron from Paragon Mortgages
It is generally anticipated that, at this time of year, the housing market shows a decrease in activity, resulting in a freeze of or slight dip in prices.
However, demand for rental accommodation remains high in the closing weeks of 2012, as observed by estate agent Connells, and the usual decline in rental market movement has not been seen.
As part of their residential property focus Q4 2012 released in early November, global real estate services provider Savills predicted yield and rental growth to be deciding factors in UK house prices; in other words, they anticipate that the value to investors, rather than owner-occupiers, will dictate price movement, and that yields will put a ‘floor’ under prices.
The signs point to a rise of the buy to let market in the new year, which many investors are pre-empting by snapping up property ‘while it’s cold’.
This information should not be interpreted as financial advice. Mortgage and loan rates are subject to change.