Paragon Bank expands green BTL range
Paragon Bank has expanded its range of green buy-to-let (BTL) products with the launch of four further advances exclusively available for properties with an Energy Performance Certificate (EPC) rating of A, B or C.
The four 80% loan-to-value (LTV) further advances are available for landlords who have four or more mortgaged BTL properties in England and Wales in their personal names or through a limited company.
Initial fixed rates start at 3.75% and the products are available on single self-contained units (SSCs) as well as houses in multiple occupation (HMOs) and multi-unit blocks (MUBs) over 2-year and 5-year terms.
All are offered with nil product fee, no application fee, and a free valuation.
Moray Hulme, director of mortgage sales at Paragon Bank, said: “With the government proposing that PRS homes will need a minimum EPC rating of C for new tenancies by 2025 and for all homes in the sector by 2028, we recognise that a number of landlords may need to modify their portfolios.
“This may require significant investment so the financial services sector can play an important part in creating sustainable future.
“By adding to our product range that offers financial incentives to encourage investment in more energy efficient homes, we’re supporting landlords, helping them comply with government regulations while making their properties more attractive to prospective tenants.”