High Levels Of Demand Revealed For Lettings
The best property letting agents Norfolk has available may well have noticed a rise in demand for their services in the third quarter of the year, as new figures have revealed that 41 per cent of landlords confirm that tenant demand is now on the increase.
According to Paragon Mortgages, only three per cent of those asked said that tenant demand was actually on the decline, with the remaining 51 per cent stating that they thought demand was stable. Confidence remains high, it would seem as well, with 61 per cent of landlords saying they believed demand would stay stable for the next year.
“Current thinking is that gross buy-to-let lending this year will be around the £25 billion mark, which represents a healthy increase over 2013 - but there has been some evidence that the rate of growth has slowed as the year has progressed,” director of mortgages with the company John Heron remarked. The total buy-to-let lending amount for 2013 was £20.7 billion.
Those surveyed also indicated that the most important factor when on the hunt for a new buy-to-let mortgage was interest rates, which has been the upmost consideration for the last 12 months. This was followed by an average loan-to-value and product fee.
This comes as the company also revealed research indicating that mortgage intermediaries expect a six per cent rise in overall business in the fourth quarter of the year, with rental demand considered the most important factor in terms of determining buy-to-let business levels.