The average market value of landlords’ investment property reached a record high of £1.70 million during the third quarter of 2018 according to research by UK buy-to-let mortgage lender, Paragon.

Landlords are picking up property in the East and West Midlands despite a drop in purchase activity in Central London and across the rest of the country.

Mortgage intermediaries forecast a stable outlook for buy-to-let business over the next 12 months for the first time since the 2015 Summer Budget.

Mortgage intermediaries are proactive in encouraging customers to review their options to secure a better deal when their mortgage term comes to an end. 

Mortgage lending at Paragon grew 7% to £1,130 million in the nine months to 30 June 2018 according to the specialist lenders latest Q3 trading update.

Paragon is expanding its buy-to-let mortgage offering in Scotland to include mortgage products for portfolio landlords.

Landlords are most likely to have invested in a boiler upgrade in the last twelve months to boost energy efficiency of their rental properties. Upgrades to windows were also popular.

Mortgage club members at PMS now have a wider range of second charge mortgage plans to choose from, following the appointment of Paragon to its lender panel.

More buy-to-let landlords are remortgaging to secure a lower interest rate, according to Paragon’s latest FACT Index.

Paragon grew total mortgage lending by 23% to £721 million in the six months to 31 March 2018. This strong growth was underpinned by a 21% increase in its well-established buy-to-let lending.