- More competitive buy-to-let mortgage products for portfolio and non-portfolio landlords
- Lower interest rates on selected products, no up-front fees and £350 cashback
- Portfolio products available to individuals, limited companies and limited liability partnerships
Paragon is boosting its buy-to-let mortgage range this summer, with a combination of lower interest rates, no up-front fees and £350 cashback on selected products.
The new range features two and five year fixed rate mortgages for portfolio landlords and five year fixed rate mortgages for non-portfolio landlords, with products available at up to 80% Loan to Value (LTV).
Interest rate reductions range from 10 to 20 basis points.
The product changes mean Paragon’s new range is especially competitive for portfolio landlords – those with four or more mortgaged properties, more complex property types or operating in a limited company or limited liability partnership.
Portfolio highlights include a five year fixed rate mortgage at 3.70% for landlords with single self-contained units (SSCs) and one at 3.75% for landlords with houses in multiple occupation (HMOs) or multi-unit blocks (MUBs).
In both instances, landlords benefit from no product fee, no application fee, a free mortgage valuation and £350 cashback, minimising up-front costs and providing a cash injection to help with other expenses.
John Heron, Director of Mortgages at Paragon said: “Interest rates on new mortgage products have rarely been as competitive across the market as they are today. By cutting up-front costs and giving landlords flexibility to manage other expenses using cashback, we’re demonstrating our commitment to enabling the widest possible access for customers.”
18 July 2019