Increase in B2L Landlords Entering the Market

Sept. 2, 2013 - PRLog -- The survey which was carried out by Paragon Mortgages shows that buy-to-let business has been growing from first-time landlords since mid-2009.

Simon Tebbutt, from Bournecoast said: “The number of B2L cases from first-time landlords was originally at its peak in 2002 when the market was experiencing its ‘boom’ period.  However, during 2008 demand from new landlords fell to its lowest level, mainly due to the general financial crisis.”

On average since the end of 2010, 20% of B2L mortgages came from first-time landlords and the latest figures for the first half of this year show that almost a quarter (22%) of buy-to-let business was from first-time landlords.

Simon added, “The dynamics of the landlord market are changing. Professional landlords were typically the backbone and driving force behind growth in the market. However, in recent times, we are seeing them becoming more constrained in terms of being able to release equity and secure new finance.  Private investor landlords – those with between one and five properties – will be the ones to pick up the slack as these landlords have access to more flexible finance and are able to agree deals much more quickly.”

Bournecoast are the area’s Buy to Let specialists and if you have a property for sale or are interested in rental properties (long or short term) then please contact their friendly team on 01202 437888 or visit www.bournecoast.co.uk.

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Image Caption: Simon Tebbutt of Bournecoast

Further Information:

In 2010 Bournecoast celebrated it’s 50^th anniversary and has been family run since it’s inception when it was established by Major & June Webb in 1960.  Keith Simmons MBE, the previous managing director and Major Webb’s son-in-law, was then joined by his son and daughters, Des Simmons, Veronica Strongman and Anita Smith, who now run the company with a team of eighteen staff.

Bournecoast Property Agents have extended their skill base within the ever changing property market and deal with providing self catering holiday accommodation, high quality short term lets (for example to tenants), long term lets and are also an estate agency for people wishing to buy or sell their property locally.

Over the past 50 years Bournecoast has invested in a skilled workforce, ensuring each member of the team enjoys dealing with people and property whilst ensuring their knowledge of the whole property market is second to none, providing advantage over most local agents.

Issued by:

Alexandra Eaton
Marketing Manager
Bournecoast
alex@bournecoast.co.uk
01202 437888