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    darrellparas5
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    <p class=”mol-para-with-font”>Buy-to-let investors returned to city and town centre postcodes with a vengeance last year, after avoiding them during the pandemic. </p><p class=”mol-para-with-font”>Analysis by Paragon Bank has revealed a strong increase in mortgage completions for buy-to-let purchases in city and town centre postcodes during 2021, up 100 per cent on 2020.  </p><p class=”mol-para-with-font”>Appetite for urban living fell away during 2020 as lockdown-weary Britons sought bigger homes with more outside space. </p><div class=”artSplitter mol-img-group” style=”style”> <div class=”mol-img”> <div class=”image-wrap”> Aside from London and Manchester, the top 10 growth locations for buy-to-let completions were in secondary towns and cities, according to Paragon Bank. </div> <noscript> Aside from London and Manchester, the top 10 growth locations for buy-to-let completions were in secondary towns and cities, according to Paragon Bank. </noscript> </div> <p class=”imageCaption”>Aside from London and Manchester, the top 10 growth locations for buy-to-let completions were in secondary towns and cities, according to Paragon Bank.</p></div><p class=”mol-para-with-font”>The number of available rental properties on Rightmove more than doubled in 2020 in some city centres, forcing many landlords to slash rents to combat falling demand. </p><p class=”mol-para-with-font”>This led some to sell their properties, or avoid buying any more. </p><p class=”mol-para-with-font”>But according to Paragon’s analysis, towns and city centres are back in demand – although with a greater focus towards smaller, secondary towns and cities.  </p><div><div data-track-module=”am-related_carousel^related_carousel” data-track-selector=”.rotator-panels a:not([class*=external])” data-dm-rotator-rotate=”false” data-track-pos=”static” data-dm-rotator-auto-init=”” id=”p-20″ class=”related-carousel with-fb-or-tw money” data-dm-rotator-active-class=”active” data-dm-rotator-page-count=”1.0″ data-dm-social-article-auto-init=”” data-dm-rotator-page-size=”1″> <div class=”rotator bdrcc”> <div class=”rotator-title”> <h2>RELATED ARTICLES</h2> <ul class=”rotator-pages link-xocc”> <li class=”rotator-prev”>Previous

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  • </div> <div class=”fb”> <h2>Share this article</h2> <div class=”big-share”><span class=”wai”>Share</span></div> </div> </div> <div class=”related-partners money”> <div class=”bdrcc”> <h2> HOW THIS IS MONEY CAN HELP </h2> <ul class=”link-xogr1 linkro-ccox cleared”> <li class=”full-width”> Looking for a buy-to-let mortgage? Check out the best available deals here</span> </div> </div> </div><h2 class=”mol-para-with-font mol-style-subhead”>Where exactly are investors buying? </h2><p class=”mol-para-with-font”>The data is taken from Paragon’s own lending activity, but as one of the 10 biggest buy-to-let mortgage lenders in Britain it provides a credible picture of where landlords may be focusing their attention.</p><p class=”mol-para-with-font”>The highest increase in buy-to-let activity was recorded in Milton Keynes, which experienced a whopping 667 per cent increase in buy-to-let mortgage completions in 2021 compared to the previous year.</p><div class=”artSplitter mol-img-group” style=”style”> <div class=”mol-img”> <div class=”image-wrap”> The highest percentage increase was recorded in Milton Keynes, which experienced a 667% rise in completions in 2021 compared to the previous year </div> <noscript> The highest percentage increase was recorded in Milton Keynes, which experienced a 667% rise in completions in 2021 compared to the previous year </noscript> </div> <p class=”imageCaption”>The highest percentage increase was recorded in Milton Keynes, which experienced a 667% rise in completions in 2021 compared to the previous year</p></div><p class=”mol-para-with-font”>This was followed by Bristol and Manchester, which both experienced four times the number of mortgage completions in 2021 than in 2020, and Luton which saw a 258 per cent rise.</p><p class=”mol-para-with-font”>However, not all towns and cities have been attracting investors in 2021, according to Paragon.</p><p class=”mol-para-with-font”>Buy-to-let mortgage completions in Birmingham actually fell by 42 per cent in 2021. The same went for Southampton, which saw activity down by 30 per cent year-on-year.</p><div class=”artSplitter mol-img-group” style=”style”> <div class=”mol-img”> <div class=”image-wrap”> Manchester also saw four times the number of buy-to-let mortgage completions in 2021 than it did in 2020 according to Paragon Bank </div> <noscript> Manchester also saw four times the number of buy-to-let mortgage completions in 2021 than it did in 2020 according to Paragon Bank </noscript> </div> <p class=”imageCaption”>Manchester also saw four times the number of buy-to-let mortgage completions in 2021 than it did in 2020 according to Paragon Bank</p></div><p class=”mol-para-with-font”>In London, Paragon’s figures showed a 95 per cent increase in buy-to-let completions during 2021.</p><p class=”mol-para-with-font”>However, it is clear landlords have been concentrating their acquisitions away from central London and towards the outer suburbs.</p><p class=”mol-para-with-font”>Whilst Zone 1, which covers central London, saw a 38 per cent increase in mortgage completions, Zone 3 saw a 183 per cent increase. </p><div class=”money” id=”mol-48339d50-a076-11ec-9e24-7d096510c6a4″> <table class=”mol-table” data-swipe-article=”false” width=”100%”> <caption class=”wocc”>Top 10 UK towns and cities for buy-to-let purchases </caption> <tbody> <tr> <th>Location</th> <th>2021 mortgage completion growth</th> </tr> <tr> <td>Milton Keynes</td> <td>667%</td> </tr><tr><td>Bristol </td><td>300% </td></tr><tr><td>Manchester </td><td>300% </td></tr><tr><td>Luton </td><td>258% </td></tr><tr><td>Plymouth </td><td>183% </td></tr><tr><td>Stoke </td><td>157% </td></tr><tr><td>Northampton </td><td>133% </td></tr><tr><td>London </td><td>95% </td></tr><tr><td>Cardiff </td><td>70% </td></tr><tr><td>Nottingham </td><td>64% </td></tr><tr><td><span class=”mol-style-bold”>Source: Paragon Bank</span></td><td> </td></tr> </tbody> </table></div><p class=”mol-para-with-font”>Richard Rowntree, director at Paragon Bank said: ‘The strongest growth was not necessarily in the UK’s major cities. </p><p class=”mol-para-with-font”>’Aside from London and Manchester, the top 10 growth locations were in secondary cities or large towns.</p><div class=”moduleHalf”><div class=”money item html_snippet module”> <iframe website scrolling=”no” frameborder=”0″ width=”100%” height=”110″></iframe> </div> </div><p class=”mol-para-with-font”>’The likes of Milton Keynes, Luton, Bristol, Northampton and Nottingham experienced strong double or triple-digit growth in completions during the year.</p><p class=”mol-para-with-font”>’There appears to be one of, or a combination of, three factors that each of these locations share.</p><p class=”mol-para-with-font”>’They are in commutable distance to a major city, they mostly have vibrant universities and they have healthy local economies.</p><p class=”mol-para-with-font”>’Landlords have been reacting to changing tenant demand and there is clearly demand directions for cialis 20mg tenants to retain urban living, but perhaps targeting smaller towns and cities.'</p><div class=”moduleFull”><div class=”money item html_snippet module”>
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