Paragon's return 'may signal improvements for flats to rent'
The return of Paragon to the buy-to-let lending industry could signal good news for people in search of flats to rent in London.
Chris Horne, editor of landlord advice site Property Hawk, commented on the news that the firm plans to return to its "market-leading position" within the sector by targeting professional buy-to-let property owners.
He said Paragon will be able to free-up the wholesale lending market and pointed out it is one of the first mortgage providers to be able to access funds for a long time.
Mr Horne said this is "promising for the long-term lending in the buy-to-let sector because obviously, as a result of the credit crunch, that side of the funding disappeared".
He suggested this makes for a brighter future for the market.
Similarly, the increased level of competition will encourage lenders to lower their prices, to the benefit of buy-to-let landlords, the expert continued.
Posted by Andy Britten
Published 29th September, 2010
© 2010 Estates IT Limited
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Paragon's return to the buy-to-let lending sector could signal the start of a promising future in the buy-to-let market, an expert claims.