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Paragon Bank re-launches limited-edition buy-to-let products

Paragon Bank has re-launched two limited edition products for Houses in Multiple Occupation (HMOs) and multi-unit blocks.

The two mortgages, both offered at 75% loan-to-value (LTV), span two and five-year terms with rates fixed at 2.85% and 3.34% respectively.

Both products include a free mortgage valuation and £750 cashback. The two-year finance has a 1.00% product fee and APRC is set at 4.20%, while the five-year product has a 2.00% product fee with APRC charged at 4.10%.

They are suitable for experienced landlords who wish to borrow on HMO or Multi-Unit properties in their own name or through a limited company. 

In addition, for a limited time, the specialist lender is also only charging one application fee on multiple property applications. 

Paragon Bank Director of Mortgage Sales, Moray Hulme, said: “We’ve seen that despite the changes to the Stamp Duty holiday that came into effect at the end of June, the market for rental properties is very much still an active one. A key driver of this is likely to be the strong tenant demand which we have now seen for a sustained period.

“We received an overwhelming response when we launched these limited-edition products previously and have now added a limited time deal where only one application fee is charged regardless of how many properties are purchased. In this, we feel we have a really competitive offering that should appeal to investors interested in making the right additions to their portfolios.”

Paragon’s buy-to-let range of mortgages can be viewed at www.paragonbank.co.uk/intermediary/mortgages 

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