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Many landlords 'planning to purchase more properties soon'
Posted by Emily Jones
A significant number of landlords in the UK intend to purchase more property in the near future, it has been claimed.
According to Paragon Mortgages, one in ten such people are planning to invest in more real estate during the first quarter of this year.
Among those keen to buy residences to let out, 65 per cent said they would seek a terraced home, while 25 per cent would hunt for semi-detached properties and ten per cent expressed a preference for detached domiciles.
However, landlords are being impeded by a lack of mortgage finance, the organisation suggested.
John Heron from Paragon Mortgages - which was set up in 1995 and is a specialist provider of residential mortgages to professional landlords - described the figures as "positive".
He added that with tenant demand at "such strong levels" and "soft house prices" presenting the opportunity for bargains, it is "easy to see why" people are seeking to expand their portfolios.
20/01/2010 15:54
News category: Property