Paragon reports continued confidence

According to Paragon Mortgages, nearly 70 per cent of advisers predicted the four rate rises in the last 10 months would have either a positive impact on their business levels, or no impact at all.

John Heron, managing director of Paragon Mortgages, said: “Rate hikes may have cooled the market slightly, but there is still a healthy appetite for bricks and mortar. But in an environment of rising rates, it’s more important than ever for borrowers to seek out independent expert advice to ensure they get the best mortgage for their requirements.”

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There was similar confidence among buy-to-let landlords, with 43 per cent saying they would take no action and 12 per cent admitting they would be investing in further properties on the back of the rate rises.

Heron added: “The majority of landlords are under-geared and are well placed to ride out the current wave of rate hikes without cause for concern and strong tenant demand is underpinning further investment.”

John Coffield, head of The Mortgage Alliance, commented: “I don’t think the rate rises have had a negative impact. It may have done a bit of dampening down but lenders are bringing out products which are innovative and helping to maintain lending. This is especially so in the investment sector.”

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