The midweek financial press today heralded the return of Paragon to the Buy-to-Let market, with experts in both the Daily Mail and Express calling the announcement ‘a good sign of improvement’, particularly in this, a restricted and expensive market. At the height of the boom Paragon was the third biggest buy-to-let lender, and also one of the more cautious, so many feel that that this move could signify a growth in confidence. The Express also reported this week on the rise of the reluctant or ‘accidental’ landlord – a term referring to homeowners who decide to let out their property if they are unable or choose not to sell at the current time. Whilst this can be a viable and even profitable option, many are not aware of the red tape involved in the process, so experts provide advice on legal requirements for getting gas appliances tested, understanding the rules of Houses in Multiple Occupation (HMOs), and informing both the mortgage lender and finding the right insurance policy.
What the papers say- 6th October 2010