Fifth of brokered mortgages are buy-to-let

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Buy-to-let investors are responsible for over a fifth of all mortgage brokers applications, according to Paragon Mortgages.

Paragon’s July Buy-to-Let Index also claims buy-to-let investors are seeking better value from property compared with residential purchasers and rising rents have allowed rental yield to remain stable despite recent interest rate hikes. The report says around 21% of all mortgages dealt with by intermediaries are buy-to-let and the number of applications intermediaries are dealing with has increased, from 25 mortgages per office per month four months ago to 26.1 in July. John Heron, managing director of Paragon Mortgages, says: “The consistently strong returns from buy-to-let continue to a...

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