Intermediaries expect more Q4 business
When it comes to buy-to-let intermediaries expect business levels to increase by 3% over the next 12 months.
The majority (69%) identified rental demand as the most important factor for determining the state of buy-to-let business, followed by property prices (65%) and interest rates (64%).
Paul Clampin, director of mortgage underwriting at Paragon, said: “It is positive to see that average expected levels of mortgage business, both general and buy-to-let, have increased since the previous quarter, particularly following the recent implementation of MMR.
“Demand from tenants continues to remain high and is likely to do so over the foreseeable future as more people move into the private rented sector.
“Therefore, this is likely to have a positive impact on intermediaries’ expected levels of buy-to-let business going forward.”
More than half (56%) of intermediaries expect buy-to-let business to remain stable over the next year, two in five (40%) expect to do more business in the coming year, while one fifth (19%) anticipate an increase of 6% and over.