Brokers positive on BTL
More than half of intermediaries expect to do more buy-to-let mortgage business in 2012 than they did last year, Paragon Mortgages claims.
Of those who said they expect Buy-to-let business to rise 19% said that they expect levels to bounce 10% or more.
Only 3% of respondents said they are looking to complete less buy-to-let business in the next 12 months.
This is despite 62% of brokers surveyed by Paragon believing unemployment will rise in 2012 and 42% saying they expect GDP to fall.
John Heron, managing director of Paragon Mortgages, said: “2012 is set to be another challenging year for the buy-to-let and general mortgage market as we continue to feel the impact of the Eurozone crisis and wider economic factors.
“However it’s positive to see the level of optimism among intermediaries and the fact that more than half expect to increase their level of buy-to-let business throughout the course of the year.”
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