Mortgages  

Advisers giving a boost to mortgage sales – Paragon

A survey by the buy-to-let specialist of its panel of 200 intermediaries found that the average number of sales introduced to lenders by advisers in the last three months of 2013 was 20.8.

This was 7 per cent higher than the third quarter figure, and 15 per cent higher than the corresponding period in 2012.

John Heron, managing director of Paragon , said: “The acid test of any recovery is the volume of transactions. The market has been dull for a long time but evidence is now stacking up of a major shift in gear.”

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The perception of mortgage advisers on the availability of buy-to-let finance also improved as 56 per cent noted a rise between October and December 2013, compared to just 47 per cent in the same period of 2012.

Mr Heron added: “Intermediaries are writing more mortgage business and are confident about writing more again in the near future. But it is important to keep these improved levels of activity in perspective.

“Although the volume of mortgage business is increasing for many intermediaries, levels are still lower than they were pre-2008. There is a long way to go therefore before we have a market that we could regard as ‘normal’.”

Paragon has made a name for itself among advisers for its buy-to-let offerings and extended its mortgage range last year.

Ray Boulger, adviser for London-based John Charcol, said: “Paragon has a fantastic record in terms of its arrears and it clearly knows what it is doing in the buy-to-let market. It is one lender that has demonstrated the benefit of sticking to its knitting.”

Key facts

56% advisers noted buy-to-let finance improvements

15% Q3 2013 rise in year-on-year mortgage sales