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Northern buy-to-let mortgage holders better off

Fri, 23 Dec 2005

Buy-to-let mortgage holders in the north of the country are seeing property values, rental incomes and rental yield increase, according to a mortgage lender.

The Paragon Mortgages Buy-to-Let Index revealed that buy-to-let mortgage holders in the north average higher total returns than those in the country's south.

Rental yields have remained "relatively stable" over the last three months, says John Heron, the managing director of Paragon Mortgages.

"This is clearly good news for landlords with existing property investments or who are considering increasing the size of their portfolios," he adds.

Thanks to lower interest rates, more people have been taking out buy-to-let mortgages in order to make a long-term investment or make some money through rental income.

High property prices in the south of England have forced some buy-to-let mortgage holders to look to the north for property investments with better potential returns.

Paragon Mortgages is the UK's leading provider of residential buy to let mortgages.

It won the award for buy to let lender of the year for the last three years at the NACFB Business Finance Awards.

Paragon Mortgages introduced its first specifically targeted buy to let mortgages in 1995 and by consistently developing and improving its mortgage product range and service, now has mortgage balances in excess of £2.9 billion.

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