Availability of Commercial Mortgages Improves – Paragon Mortgages

A recent research by Paragon Mortgages showed that almost 50% of UK brokers reported an increase in the number of commercial mortgages for landlords.

In the 3 months to September 2010, the number of available btl mortgage deals increased, said 43% of British brokers. The proportion of mortgage brokers who reported that there were no changes in finance availability reached 38%. 19% of respondents said that accessibility of business mortgages worsened.

Commenting on the findings, Mr. Heron of Paragon Mortgages said that the increase is due to the fact that buy to let lenders are coming back or entering the UK market. He, however, highlighted, that the market is still far from being on the peak as it was back in 2007.

Mr. Heron said that the return of Paragon Mortgages onto UK commercial mortgage market is essential for professional landlords.

If you are a UK landlord who looks for attractive buy to let deals, consider taking advantage of online comparison tools and then contacting the lender in person.