23/06/2010 - More landlords 'plan to expand'
Figures have shown more landlords are planning to buy-to-let in the year ahead suggesting a return to confidence in the market.
According to Paragon Mortgages, about a fifth of investors claim they plan to add to their portfolio in the last three months of the year, almost double the proportion from in the first quarter on 2010.
The majority of landlords (74%) are looking to purchase terraced houses, followed by semi-detached homes, flats and detached properties, the research showed.
However, many landlords claim they are still faced with reluctance from some lenders.
Some 40% said they had tried to get a mortgage between April to June, but half of these said getting a mortgage had been more difficult than before.
And it appears investors are being put off by the difficulties, with 46% admitting they would buy more properties if mortgages were easier to obtain and 43% saying they would be encouraged to expand with better tax incentives.
John Heron, managing director of Paragon Mortgages, said: "There has been a significant jump in the percentage of landlords looking to purchase property, which reflects the increased level of confidence across the landlord community. However, there remains a dislocation between landlords' desire to purchase property and their ability to do so."
Copyright © Press Association 2010
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