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Buy-to-let mortgage range extended as Paragon removes floating charge for limited companies

  • Paragon extends its Portfolio and Non-portfolio buy-to-let product ranges
  • Portfolio product highlights include a 3.49% 2 year fixed rate @ 80% LTV for SSC units
  • Non-portfolio product highlights include a 3.55% 2 year fixed rate @ 80% LTV for SSC units
  • Paragon has removed the requirement for a floating charge on limited company applications
  • Paragon launches new CaseTracker app, enabling the management of applications quickly and simply

Paragon has launched an extended range of Portfolio and Non-portfolio buy-to-let mortgage products for the new year and removed the requirement of a floating charge on all applications from limited companies incorporated solely for the activity of holding and letting residential properties.

Among the new Portfolio buy-to-let products is a 2 year fixed rate at 3.49% for borrowing up to 80% loan-to-value (LTV) on SSC units, and a 2 year fixed rate at 3.69% for borrowing up to 80% LTV on HMO/MUB properties

Four new Portfolio switch products in Paragon’s Portfolio buy-to-let range include a 2 year fixed rate at 3.99% on borrowing up to 80% LTV on SSC units.

Paragon’s new Non-portfolio further advance buy-to-let products include a 2 year fixed rate at 3.55% and a 5 year fixed rate at 3.90%, both for borrowing up to 80% LTV on SSC units.

The removal of the requirement for a floating charge on limited company applications will improve service delivery and make applying to Paragon easier for buy-to-let mortgage intermediaries and customers.

This is the latest in a recent succession of key developments from Paragon, following the launch of a new CaseTracker app and the removal of valuation and admin fees on all Portfolio products.

CaseTracker is available to download now from the Apple iTunes Store. Existing Paragon intermediaries can log in using the same user credentials they use to apply online and manage their buy-to-let mortgage applications quickly and simply, straight from a mobile, tablet, laptop or desktop device.

Inside the app, intermediaries will be able to:

  • View their current list of pre-offer applications and associated outstanding tasks
  • Select an account and view the tasks by open, pending and completed
  • Respond to an outstanding task through the app, by uploading any comments and documents directly to Paragon's underwriting system
  • Call or email the Customer Relationship Team directly from the app

John Heron, Managing Director – Mortgages at Paragon said:“Paragon has always been known for its specialist lending capability and particularly its focus on professional landlords. These new competitive products for portfolio landlords underline this approach and are supported by ongoing developments in our lending policy and service delivery.

“For us, it’s all about offering choice and making the portfolio application process as straightforward as possible. This extended range of products, along with the removal of floating charges, valuation and admin fees, and the ability to manage everything online or through the CaseTracker app does just that.”

11 January 2018

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