Paragon unveils new buy-to-let products

Paragon unveils new buy-to-let products

Paragon has introduced an extended range of Portfolio and Non-portfolio buy-to-let mortgage products.

It has also 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.

John Heron, managing director of 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.”

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