Landlords have 'solid platform to build on for 2010'

News Category: Industry News

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Landlords can look forward to a better year in the rental market, according to a new report.

The Private Rented Sector Trends report by Paragon Mortgages found that demand from tenants had grown, as the housing market remains slow and it is still difficult for first-time buyers to be approved for a mortgage.

Landlords were positive about their prospects for 2010, with 21 per cent saying they expected to see the value of their property portfolios rise this year.

Paragon Group chief executive Nigel Terrington said 2009 had been a year of stability, recovering from the crash in the housing market the year before.

He said: "It was encouraging to see a handful of successful residential mortgage-backed securities deals completed in the latter half of the year."

According to the report, one in ten landlords are looking to expand their property portfolios in the first three months of the year.

Tom Entwistle, editor at online landlord community LandlordZONE, said landlords were being prevented from expanding their portfolios by high set-up fees from mortgage lenders.

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