Despite being a year of widespread negative sentiment on the housing market, 2005 was another strong year for the buy-to-let market, says Paragon Mortgages.
Conditions in the first half of the year were challenging, with falling confidence in the housing market as a consequence of increased interest rates and general concerns over value and affordability. The second half of the year however, saw improving landlord confidence. John Heron, managing director, Paragon Mortgages says: “We’re clearly now in a more buoyant phase for landlords. The market has proved more resilient than many expected, and we are definitely seeing a buy-to-let bounce. This is, to a significant extent, the result of lower financing costs following interest rate reduction...
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