Paragon accepts consumer buy-to-let
Paragon Mortgages will now accept consumer buy-to-let applications via its sister brand Mortgage Trust.
Ahead of Monday’s deadline its new online application system is live, meaning Mortgage Trust products are available to consumer buy-to-let customers.
John Heron, Paragon’s director of mortgages, said: “We are pleased we have been able to launch our consumer buy-to-let application process ahead of 21 March when MCD takes effect.
“Whilst the proportion of this type of business is not huge across the industry, it is a potentially important gateway to property investment for first-time landlords and should be supported.
“Intermediaries will need to be registered to submit this type of business to us and we have designed a decision tree within our system to help them identify those applications that fall into this category.”