Accord cuts BTL rates

Accord cuts BTL rates by up to 0.38 per cent - https://t.co/ysOkObzjef Accord Mortgages has reduced the rates on its buy-to-let (BTL) range by up to 0.38 per cent in an aim to give better value to landl... pic.twitter.com/3XyJoJJQbz

— Mortgage Solutions (@mortgagesols) July 15, 2021

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A flood of new BTL products

Buy-to-let investors looking to remortgage or expand their portfolios have been handed a boost, with lenders launching more than 200 new mortgage deals last month.
➡️https://t.co/NDlkRheLzJ pic.twitter.com/xC56XJSOrd

— Which? Money (@WhichMoney) April 19, 2021

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New limited company BTL products

Foundation Home Loans add two limited company BTL products https://t.co/XMTwahl5YA

— Mortgage Introducer (@MortgageChat) March 23, 2021

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Govt backed 95% mortgages

Rishi Sunak says some of the largest lenders will be offering government backed 95 per cent mortgages from next monthhttps://t.co/z934mFdjX5

— FTAdviser (@FTAdviser) March 3, 2021

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Leek United new portfolio BTLs

Leek United reintroduces portfolio BTL and interest-only products https://t.co/gx83R9bjot

— Mortgage Introducer (@MortgageChat) February 1, 2021

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Vernon relaunches BTL range

Vernon relaunches specialist buy-to-let mortgage range - https://t.co/eQrDlMO9rE Vernon Building Society has relaunched its specialist mortgage range to brokers. pic.twitter.com/04jAdzzw81

— Mortgage Solutions (@mortgagesols) December 17, 2020

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Bucks reintroduces ex-pat BTL

Buckinghamshire reintroduces ex-pat BTL product https://t.co/ObAcSmpbUc

— Mortgage Introducer (@MortgageChat) September 16, 2020

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Paragon launches 70% LTV BTL fixes

Paragon launches 70% LTV buy-to-let fixed rate deals https://t.co/PZUWsoD04T

— Mortgage Introducer (@MortgageChat) May 14, 2020

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TSB raises BTL LTVs

TSB raises residential and BTL LTVs - https://t.co/lJVLSOK9rD #GoogleAlerts

— Property Hawk (@landlordnews) May 14, 2020

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Buy-to-let rates on the rise

Buy-to-let rates on the rise - https://t.co/MEByhebstr #GoogleAlerts

— Property Hawk (@landlordnews) May 8, 2020

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Interbay resumes buy-to-let lending

Interbay resumes buy-to-let lending - https://t.co/tYOxQrpBOX #GoogleAlerts

— Property Hawk (@landlordnews) May 8, 2020

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Buy-to-let: The comeback king?

Buy-to-let: The comeback king?https://t.co/smUnFYPE7L

— Mortgage Strategy (@MortgageStrat) March 2, 2020

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Specialist mortgage business grows at Paragon

Specialist portfolio buy-to-let lending grew at Paragon during the final quarter of 2019, the company has confirmed today in a trading update.

Specialist buy-to-let lending was 1.1% higher year-on-year at £375.4 million, whilst the quarter end pipeline figure for buy-to-let was £814 million (11.6% higher year-on-year), of which 92% is specialist. 

Richard Rowntree, Paragon Managing Director of Mortgages, said: “Portfolio landlords have demonstrated a greater propensity to buy in the current market. These landlords often focus on more complex properties and require a specialist lender, such as Paragon, that can fully cater for their needs.”

Other mortgage and amateur buy-to-let volumes were lower in comparison, following Paragon’s decision to focus on higher margin, professional business, with overall mortgage lending down 4.0%.

Paragon’s commercial lending new business volumes were 19.9% higher than the comparable quarter at £254.1 million.

Commenting on the update, Nigel Terrington, Paragon Chief Executive, said:

“The Group has made a strong start to our 2020 financial year where good progress has been achieved in our key divisions.  Our loan portfolios continue to deliver an exemplary credit performance. We look forward to the year ahead with confidence as we continue to pursue a diversification strategy. Whilst we welcome recent survey reports indicating improving confidence, it is too early to determine whether this will convert into a sustained improvement in economic activity and we will continue to maintain conservative risk appetite.”

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Brokers predict growth in BTL business

Mortgage brokers predict growth in buy-to-let business

• One in five brokers expect to write more buy-to-let business in 2020
• Demand for buy-to-let finance for portfolio extension at highest level for over two years
• Remortgaging continues to dominate brokers’ buy-to-let mortgage business

Mortgage brokers are predicting an uptick in buy-to-let mortgage business over the next 12 months on the back of landlords expanding their portfolios and strong remortgage levels.

Paragon’s FACT research, which has tracked broker trends since 1995, found that one in five brokers expects to introduce more buy-to-let business in 2020, compared to 11% who say it will fall. Overall, brokers expect to do 0.8% more business this year, the second quarterly increase in a row.

FACT found that the proportion of landlords obtaining buy-to-let finance for portfolio extension rose to its highest level since Q1 2017 during the final quarter of 2019. Nearly one in four (24.5%) buy-to-let mortgages were written for portfolio extension, whilst 50% was for remortgaging purposes, a fall from 55% the previous quarter.

Richard Rowntree, Paragon Managing Director of Mortgages, said: “Buy-to-let lending has been driven by remortgage business in recent years, so it’s great to see the proportion of lending for portfolio extension purposes increase and hit its highest level for nearly three years.

“It’s also encouraging to see that the balance of brokers expecting to write more buy-to-let business is positive for 2020 as confidence has been subdued for much of the past four years. These are green shoots and we hope that they will continue throughout this year on the back of a more certain regulatory, economic and political environment.”

Of buy-to-let landlords remortgaging during the final quarter, the overwhelming majority (61%) were doing so to secure a better rate of interest, with nearly a third (31%) remortgaging to raise capital. 

Overall, brokers said that buy-to-let accounted for 17.7% of overall business during Q4 2019, the highest proportion for a year.

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Hanley enters ex-pat BTL market

Hanley enters ex-pat BTL markethttps://t.co/jsI9r8bGg9

— Mortgage Strategy (@MortgageStrat) January 14, 2020

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Gatehouse Bank cuts BTL rate

Gatehouse Bank cuts BTL rateshttps://t.co/xj38C1OZwK

— Mortgage Strategy (@MortgageStrat) January 8, 2020

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TMW launches buy-to-let switcher range

TMW set to launch buy-to-let switcher range https://t.co/zNlATGkKpZ

— Mortgage Introducer (@MortgageChat) December 11, 2019

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Fraudsters create fake Paragon account

Fraudsters create fake Paragon account https://t.co/EHPyE4Jn0A

— Mortgage Introducer (@MortgageChat) December 9, 2019

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Fleet cuts rates for individual landlords and HMOs

Fleet cuts rates for individual landlords and HMOs - https://t.co/fsuKiFuWS0 Fleet Mortgages has cut interest rates on two products in its standard and homes in multiple occupancy (H... pic.twitter.com/isX2mZ9gUt

— Mortgage Solutions (@mortgagesols) November 26, 2019

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Paragon BTL lending stable

Paragon BTL lending stable as profits and margin up - https://t.co/2ssazJudQO Paragon has seen a “sharp increase” in specialist landlord business as the lender increased its new... pic.twitter.com/RmfECVGr1K

— Mortgage Solutions (@mortgagesols) November 26, 2019

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