79% of intermediaries believe buy-to-let will grow in 2012
The first quarter of 2012 saw a continued growth in the buy-to-let market according to the latest figures released by Paragon Mortgages, and 79% of intermediaries believe that this will hold strong for the rest of the year.
First-time landlords made up for almost a quarter of letting-related business done by brokers in the past three months, as 23 per cent of all such loans approved were granted to those who are new to the rental sector.
It appears that continued demand among tenants has served to boost confidence in the market and fuel the idea that the buy-to-let industry will remain profitable in the future.
"It is particularly interesting to see the increase in first-time landlords entering the market. This not only demonstrates confidence in the market but also that buy-to-let remains an attractive business," said John Heron, director of Paragon Mortgages.
As increasing numbers are drawn to the lettings sector, cheap landlord insurance policies will be key to those who are new to the market when it comes to protecting their assets.
Social media