Brokers upbeat about prospects for B2L business

More than half of brokers expect to complete more buy-to-let business this year than last, according to a survey by Paragon Mortgages.

The poll reveals that 53% of brokers believe they will do more buy-to-let business in 2012, with just 3% expecting to do less.

Of those predicting that buy-to-let business will increase, 19% put the rise at 10% or more.

When asked about the economic factors which will affect the mortgage market in the next 12 months, 62% say unemployment will rise while
42% think gross domestic product growth will fall.

John Heron, managing director of Paragon, says: “2012 is set to be another challenging year for the buy-to-let and general mortgage markets as we continue to feel the impact of the eurozone crisis and wider economic factors.

“But it’s positive to see the optimism among intermediaries.”