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'Professional investors most active in the buy-to-let market' - Paragon

Buy-to-let lender Paragon says it has seen a 'marked shift' towards buy-to-let activity among professional investors.

The organisation reports that this is shown by a higher proportion of advances made to corporate and complex landlords in the first six months of the year.

Lending to this demographic has increased to cover 72% of its buy-to-let division, up from 60% last year.

Paragon also reports that its total buy-to-let lending was up by 21% to £671 million in the first half of the year. Meanwhile, its pipeline of new buy-to-let mortgage business heading into the second half of the year is £788 million, up 6% when compared with last year.

The lender says it is well-placed to achieve its previously stated target for total mortgage lending in excess of £1.6 billion for the full financial year.  

“Recent tax and regulatory changes have had a significant impact on the buy-to-let market driving a polarisation between smaller scale and more professional portfolio landlords and a retreat of some lenders from the provision of new products for portfolio landlords," comments John Heron, Paragon's managing director of mortgages.

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