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Landlords look to expand portfolios

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The proportion of buy-to-let investors who are hoping to purchase new properties has almost doubled since the start of 2010, a new report has claimed.

About 21% of landlords are planning to invest in new property in the third quarter of the year, almost double the 11% reported in the first three months of the year, according to specialist lender Paragon Mortgages.

Almost three-quarters of investors (74%) were targeting terrace houses. Semi-detached homes, flats and detached properties followed in the list.

Half of the four out of ten landlords who had tried to secure a mortgage in the second quarter said they had found it more difficult to obtain one than before.

So with all that work to secure their new properties, landlords will be certainly looking to find good deals on home insurance cover.

John Heron, managing director of Paragon Mortgages, said: "There has been a significant jump in the percentage of landlords looking to purchase property, which reflects the increased level of confidence across the landlord community. However, there remains a dislocation between landlords' desire to purchase property and their ability to do so.Accessing mortgage finance remains difficult for a large number of landlords."

© Press Association 2010