Paragon Mortgages, the specialist U.K. buy-to-let (BTL) lender, said it plans to do two securitizations per year, with the next deal planned for spring 2014, according to a Standard & Poor’s report.
The U.K. lender priced
Paragon stopped originating buy-to-let mortgages between 2008 and 2010. The buy-to-let specialist lender launched the last investor-placed U.K. buy-to-let RMBS, Paragon Mortgages 17, in Oct. 2012.
“Strong private rental demand could push up U.K. buy-to-let lending, despite greater mortgage availability for first-time buyers in recent months,” said S&P.
The average rent in England and Wales rose 0.7% m/m and 1.3% y/y in August to £743, £1 below the all-time high; 5 of 10 regions saw y/y rent rises, led by London at 5%, according to figures reported by the Mortgage Finance Gazette and LSL Property Services. The number of new lettings increased 9% m/m and 14% y/y.