Paragon re-enters the student market
Paragon Bank has resumed accepting applications on buy-to-let properties that are, or will be, let to students.
The specialist buy-to-let mortgage lender is offering a range of two-year and five-year fixed rate options, available on HMOs and multi-unit blocks.
A 70% LTV range starts at 3.05% over two years, rising to 3.44% when spread over a five-year term.
For landlords looking for 75% LTV products, Paragon offers a rate of 3.35% on a two-year fixed rate and two five-year choices are offered at 3.74% and 4.2% respectively, both with £350 cashback.
Two-year mortgages incur a 1% fee and 2% is charged on five-year deals.
A free valuation is included with these products.
Moray Hulme, director of mortgage sales at Paragon, said: “We are pleased to have re-entered the student market, offering intermediaries some strong products that we feel are well suited to meet the robust demand we are currently experiencing.
“We wanted clarity on whether students would return for the 2020/21 academic year, which they have done even if lectures are being held remotely.”