Paragon Bank launches limited-edition buy-to-let products
Paragon Bank has launched two limited edition products for single self-contained units, houses in multiple occupation (HMOs) and multi-unit blocks (MUBs).
Offered over two and 5-year fixed-rate terms, with rates starting at 2.65% and 2.99% respectively, the products include free mortgage valuations and £750 cashback.
Both mortgages are offered at 75% loan-to-value (LTV) and are available for experienced landlords purchasing and remortgaging buy-to-let properties as individuals or through limited companies.
Richard Rowntree (pictured), managing director for mortgages at Paragon Bank, said: “We’re offering two products that are fairly unique in that the extremely competitive rates are available not only on single self-contained units but also HMOs and multi-unit blocks.
“Add to this, free mortgage valuations and £750 cash back, and we have two fantastic mortgages that we expect to be very popular, especially given their limited availability.
“In addition to the strong demand for rented property that is continuing to drive purchases, we know there is a need for keenly priced remortgage products.
“This is due to the significant numbers of landlords who have deals maturing, while others may want to take advantage of house price rises to raise capital for improvements; expanding our range of limited-edition mortgages will help to support landlords in these situations.”