Paragon unveils exclusive BTL mortgage deals for landlords

Paragon unveils exclusive BTL mortgage deals for landlords

0:01 AM, 12th June 2023, About 8 months ago

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To cater to the diverse needs of landlords, Paragon Bank has introduced a series of limited edition buy-to-let mortgage offerings.

The new options include five-year fixed-rate deals with no fees or flat fees, as well as discounted standard variable rates.

The lender’s decision to offer these mortgage options was influenced by broker feedback, underlining its commitment to providing landlords with more choice.

‘Delighted to launch a range of limited-edition products’

Louisa Sedgwick, Paragon’s commercial director, said: “We’re delighted to launch a range of limited-edition products that we feel provide something a little different to those offered by many of our competitors.

“We’ve listened to brokers who have told us that nil and fixed fee options should appeal to landlords wanting higher loan amounts, up to £500,000, alongside the certainty of fixing rates for five years.

“In addition, we have 12-month discounted variable rate products that provide competitively priced options for those who want to remain active in the market without committing to a longer term.”

She added: “These deals complement our core range, which includes a mix of lower rates and different fees, in addition to options like our track to fix product.

“Having the ability to secure a new discounted variable rate and then switch to a Paragon fix at any time during the term offers a mix of flexibility and certainty that may be particularly appealing given the fluidity of the current market.”

Purchase or remortgage single self-contained (SSC) properties

For those looking to purchase or remortgage single self-contained (SSC) properties, Paragon is offering nil fee five-year fixed rates starting at 6.35%, while rates for houses in multiple occupation (HMOs) begin at 6.60%.

Landlords also have the option to choose a five-year fixed rate with a flat fee of £2,995.

In this case, rates for SSCs start at 6.05% and 6.30% for HMOs.

These five-year fixed-rate deals are accessible at 65% loan-to-value (LTV) on loans up to £500,000.

Paragon has broadened its offerings

Paragon has further broadened its offerings by launching three 12-month discounted standard variable rate (SVR) options.

These rates start at 5.50% for SSCs and 5.75% for HMOs, accompanied by a 1.50% fee.

All of these special mortgage products come with free valuations and no application fees.

They are available to portfolio landlords – those who own four or more buy-to-let mortgaged properties – in England, Scotland, and Wales.

Contact Brooklands Commercial Finance

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