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Paragon turns up the heat with buy-to-let boost for summer 2019

  • 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

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