Latest News

Reviewal date set for housing market in Wales to fully open

10 July 2020

First Minister, Mark Drakeford has today, 10 July 2020 announced in his statement reviewing the Health Protection (Coronavirus Restrictions) (Wales) Regulations that the Welsh Government will consider reopening the housing market, to allow viewings in occupied properties, from 27 July 2020. Read More...

LBTT threshold must be implemented immediately

09 July 2020

In response to the Chancellor's Summer Statement at Westminster, the Cabinet Secretary for Finance, Kate Forbes MSP, has said that the Scottish Government will raise the threshold for Land and Buildings Transaction Tax (LBTT) from £145,000 to £250,000. Read More...

Electronic signatures for conveyancers

09 July 2020

HM Land Registry has today, 9 July issued draft guidance on the introduction of e-signatures in order to tackle the issues that legal formalities have caused during the COVID-19 pandemic. Read More...

Buy-to-let mortgages stable despite overall market slowing

Wednesday 13 November 2019

Latest data has revealed an overall slowdown in mortgages despite the stability in the buy-to-let market with an expected further growth of one per cent in the next quarter.

Paragon, a lender and savings bank, has recently published their Financial Adviser Confidence Tracking (FACT) Index for the latest quarter (Q3), which has recorded the average number of mortgages introduced in 2019, down 3 per cent in the second quarter, the lowest figure since 2017 - but despite this slowdown, the buy-to-let market has remained relatively stable.

A notable decline was recorded in 2016 for buy-to-let mortgages but the latest comprised 17 per cent of mortgages introduced, up 2 per cent from 15 per cent in Q2 2019. 

In terms of buy-to-let business completed in 2019, quarter three saw first-time landlords grow from 11 per cent to 13 per cent and remortgaging climbed from 52 per cent to 55 per cent. However, the proportion of landlords raising finance for portfolio extension was smaller, down from 23 per cent of business in the quarter two to 20 per cent.

Looking ahead, a 1 per cent increase in buy-to-let is expected in the next quarter.

John Heron, Director of Mortgages at Paragon, said: “After a number of years of instability and negative sentiment in the buy-to-let market, it’s encouraging to see mortgage intermediaries forecasting increased buy-to-let business over the next 12 months. However, the market overall has been constrained by the current Brexit uncertainty and it remains difficult to see exactly when this will end.”

The full report

Propertymark resources

Propertymark has a number of consumer guides to help buyers, including a guide on mortgages.

Login