- Source : Dominic Welling, FTAdviser , Published Friday , January 22, 2010
The Paragon Group has revealed it is increasingly confident about starting up new lending again in the buy-to-let market, as funding conditions have continued to improve.
Paragon revealed it was hopeful funding could improve soon.
“While these are early days recent improvements in funding markets will encourage us to look more confidently to reinstating the funding programme to support new lending going forward.”
The group also reported it does not expect to see a material increase in competition in the buy-to-let market for some time and redemption rates were therfore likely to stay low for foreseeable future.
The report said: “With demand for private rented property expected to remain high an increase in unsatisfied mortgage demand, particularly from professional landlords, is anticipated going forward.”
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