More buy to let mortgage choice in 2012
Due to growing competition amongst lenders offering buy to let mortgage products, landlords wanting to expand their property portfolios, can look forward to enjoying greater choice in 2012 .
Specialist buy to let mortgage provider Paragon Mortgages has announced the launch of 50 new products to the market. The bulk of the products are designed to cater for professional landlords, existing conditions have been altered to make it easier for intermediaries to easily identify the best products for borrowers. Small scale landlords have not been forgotten either. Six products available through Paragon's sister firm Mortgage Trust, are targeted at small scale landlords. A change has been introduced which will allow a more flexible approach to minimum income levels.
According to John Heron, managing director of Paragon Mortgages, 2012 will see a continued rise in demand from tenants for rentable properties and, the private rented sector will be under pressure to cater for this increased demand. He said that "in order to do this, professional landlords need access to products that meet their specific requirements so that they can grow their business."
Paragon Mortgages understand the more complex nature of business often associated with professional landlords circumstances and the importance of making mortgage applications more straight forward. Their new range of buy to let mortgage products are aimed at simplifying the mortgage application procedure for landlords.
