Paragon refreshes buy-to-let range
Specialist buy-to-let lender Paragon has refreshed its range of mortgage products for portfolio and non-portfolio landlords.
The changes include lower rates on 14 different mortgages available up to 80% LTV.
The range for portfolio landlords include fixed rates starting at 2.75% for those looking to purchase or remortgage single, self-contained units (SSCs).
Moray Hulme, director of mortgage sales at Paragon, said: “In recent years, landlords have had to be more strategic in their approach than ever before and the buy-to-let market has seen a significant increase in portfolio and complex business.
“This new product range caters for the professional landlord with competitive pricing, low or zero product fees, free valuations and cashback offers.
“We’re excited to build on the momentum of a strong 2019, where we introduced a new intermediary portal and increased our proportion of lending to the professional landlord community, with this new range, including lower rates on 14 products.”
Within the portfolio landlord range, rates start at 2.85% for landlords seeking finance for houses in multiple occupation (HMOs) and multi-unit blocks (MUBs).
Discount variable rates start at 2.65% for SSCs and 2.80% for HMOs and MUBs.
Fixed and discount variable rates for non-portfolio landlords start at 3.45% and 2.65% on SSCs.
Landlords can choose from a range of 2 and 5-year term products starting at 0.25%.
All products are available to individual landlords as well as those operating in limited companies and limited liability partnerships.
The products include an interest coverage ratio starting at 4%.