A leading buy-to-let specialist believes that the private rented sector (PRS) will continue to be a fundamental part of the UK housing market, now and in future years.
John Heron, who is Managing Director at Paragon Mortgages, says that private landlords will remain a vital part of the mix, despite uncertainties over recent regulatory, legislatory and fiscal changes. He said: “We have every confidence in the buy-to-let market, with tenant demand continuing to remain high and in some areas increasing, the PRS will remain a fundamental part of the UK's housing market now and in the future.”
Although Paragon Mortgages has acknowledged that much of the staggering 84.5% increase in lending it experienced between 31st March 2015 and 31st March 2016 was due to landlords anticipating the 1st April stamp duty deadline, John Heron believes that the figure also shows that fundamentals remain strong, as demand for properties exceeds supply.
In June 2016 Paragon Mortgages updated its buy-to-let product range for professional landlords, adding six new products designed to provide them with greater flexibility with their financial planning.
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With tenant demand continuing to rise, the private rented sector (PRS) will remain a fundamental part of the UKs housing market moving forward, according to a leading buy-to-let specialist.