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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.”


Jobless predicted to hit three million

Legal & General has warned that over three million people could be unemployed by the end of 2012. Figures from the Office for National Statistics last week revealed that the unemployment rate for the three months to November 2011 was 8.4% – up 0.3% on the previous quarter. The total number of unemployed increased by […]

Review will get you off on the right foot

If you’re anything like me, you were inundated with socks at Christmas. Rather than just add them to an already overflowing drawer, it presented an opportunity to get rid of some of my more threadbare footwear and start afresh.

Law Society to step into Coventry mortgage arm’s insurance battle

The Law Society and the Solicitors Regulation Authority have been granted ’leave to intervene’ by the High Court in a case between Godiva Mortgages and Travelers Insurance company. Godiva, the intermediary arm of Coventry Building Society, is pursuing professional indemnity insurance firm Travelers for losses arising from alleged mortgage fraud. Godiva is just one of […]

Woolwich offers its 75% deals via direct channel

Woolwich says it will relaunch its 75% LTV buy-to-let range through brokers as soon as it can, after relaunching the deals through its direct channel last week. The lender was forced to pull its 75% LTV deals in November, less than a month after launching them, to manage service levels. It suffered another setback earlier […]


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