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Buy-to-let mortgages

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Are you a new customer?

We offer a wide range of competitive, specialist buy-to-let mortgages for both portfolio and non-portfolio landlords, and limited companies and limited liability partnerships.

Our simple lending criteria is available on a variety of property types.

If you would like to apply for a mortgage with us, this needs to be done through an Independent Financial Adviser. A list of reputable advisers can be found on the FCA’s website.

BTL Personal

Are you an existing customer?

If you already have a mortgage with us and need to get in touch, you can contact us on:

Alternatively, you can log in and manage your account online, with features such as:

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View all your mortgage accounts
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Update your contact details
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View and download your annual statement
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Apply for a product switch or further advance

Product switches

If your current mortgage product has come to an end, you can view and apply for a new product online in minutes.

The products available to you will be dependent on your property type and whether you are classified as a non-portfolio or portfolio landlord under both Paragon criteria and the PRA regulation guidelines.

The full range of products available can be found in our non-portfolio product switch rate guide and our portfolio product switch rate guide

Further advances

You can also apply for additional borrowing through a further advance by way of a second charge mortgage.

This is a secondary loan which is secured against the property of your main (or first charge) buy-to-let mortgage. For a single property application on accounts with up to two applicants, you can apply for a further advance online. If you wish to make a further advance application for multiple properties, or with more than two applicants, then you will need to fill out a further advance application form and send it to us.

Our full range of products can be found in our non-portfolio further advance guide and our portfolio further advance guide

Applying for a product switch and further advance together

When applying for both together it’s important that the product switch and further advance applications are made as a single transaction, so that we can carry out the correct affordability assessment.

What type of landlord are you?

Use our decision flow below to find out

Do you have more than three mortgaged buy-to-let properties, with any lender in either personal name or corporate entity?

Paragon class you as a

Portfolio BTL

Portfolio landlord

Are you a limited company or a limited liability partnership?

Paragon class you as a

Portfolio BTL

Portfolio landlord

Is the property a house in mutiple occupation (HMO) or multi-unit block (MBU)?

Paragon class you as a

Portfolio BTL

Portfolio landlord

Paragon class you as a

Non-portfolio landlord

Want to make a change to your mortgage?

Add or remove a person to your mortgage

We call this a transfer of equity.

You will need to fill out a transfer of equity application form and return this to us, together with the information requested in the form. You can either email this to us at btlcs@paragonbank.co.uk or send it by post to 51 Homer Road, Solihull, West Midlands B91 3QJ.

We will then assess your application and may need to ask you for more information and documentation in support of your request.

Please be aware that we may not be able to agree to the change. However, if we do agree, you will need to instruct a solicitor to act on your behalf and make the changes to the property ownership.

If you would like to add someone to, or remove someone from, the mortgage and wish to discuss your plans before making an application, please call us on 0345 849 4060.

Change the term of your mortgage

This is a variation of contract.

If wish to change the term on your mortgage, we will assess your request and may need to ask you for information and documentation in support of the change.

Please be aware that we may not be able to agree to the change.

If you would like to make a change to the original term requested on your mortgage, please call us to discuss your requirements on 0345 849 4060. Alternatively, you can email us with details of your request at btlcs@paragonbank.co.uk.

Change the repayment type of your mortgage

This is a variation of contract.

If you wish to transfer your repayment type from interest only to capital repayment, we will assess the application and may need to ask you for information and documentation in support of your request.

Please be aware that we may not be able to agree the request if we think that the change will affect your affordability of the mortgage.

If you would like to make a change to the repayment type on your mortgage, please call us on 0345 849 4060. Alternatively, you can email us with details of your request at btlcs@paragonbank.co.uk.

Change your direct debit instruction

If you would like to change the bank account that we collect your mortgage payments from, we may be able to do this for you over the telephone, unless payments are made from a limited company or a limited liability partnership bank account.

Please call us on 0345 849 4060 if you would like us to make this change for you.

If you are a limited company or limited liability partnership, please complete a new direct debit instruction and return it to us either by email at btlcs@paragonbank.co.uk or by post to 51 Homer Road, Solihull, West Midlands B91 3QJ.

Please allow at least 14 days for the new direct debit instruction to be set up. It is important that you do not to cancel your existing direct debit until we have confirmed to you that the new instruction is in place.

Give us authority to talk to someone else about your mortgage

We call this a third-party authority.

If you would like us to discuss your mortgage with someone who isn’t a part of the mortgage, we will need you to complete a Third-party authority form.

You can return this to us either by email at btlcs@paragonbank.co.uk or by post to 51 Homer Road, Solihull, West Midlands B91 3QJ.

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Documents

We’ve collected all of our documents in one place for your convenience, including our Tariff of mortgage charges.

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Landlord news

The very latest news, views and industry insights from the Paragon press team.

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Consumer BTL

Find out more about consumer buy-to-let, which is accepted on our non-portfolio product range.

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Financial help

If you require independent financial advice for your mortgage or loan, we recommend a number of free independent advice organisations.

Fraud prevention

In the past 10 years the Land Registry has paid out £58 million in indemnity claims as a result of fraud. Recent case law will help to protect homeowners from property hijack, the fraud involving the transfer of a property title to another without the true owner’s knowledge. However, there are steps you can take as a landlord to protect your property. The Land Registry offers a free alert service to notify you if anyone attempts to make changes to the registration of your property. You should also make sure your correspondence address is included on the proprietor register so that any paperwork in relation to your property is sent to you and not the tenant. Full details of both services can be found at the UK Government website.

Landlord insurance

AXA Insurance have updated their policy wording for Paragon customers who are under the AXA Block Insurance policy 2017. Your policy schedule will identify if you have an AXA block policy. If you have insurance with another provider, this updated policy wording does not apply. Please contact your insurer directly for details of your cover.

Download AXA policy.

 

Paragon Standard Variable Rate (*SVR) 5.60%
Bank Base Rate 0.1%
Paragon **LIBOR 0.80%
Next LIBOR reset date 01.04.20
Paragon reference rate 5.50%

*SVR. From 9 October 2017, Paragon Bank Standard Variable Rate (SVR) and Paragon Group SVR aligned to a single rate, Paragon SVR. There was no change in interest rate as a result of this name change.

**LIBOR. From 9 October 2017, Paragon Bank LIBOR and Paragon Group LIBOR aligned to a single rate, Paragon LIBOR. There was no change in interest rate as a result of this name change.

If you took out a mortgage with Paragon before 1 April 2005, you may be on a different LIBOR rate, which will be shown in your original terms and conditions. You can also check which LIBOR rate you’re on by calling us on 0345 849 4060

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551