Paragon updates buy-to-let mortgage range
Specialist buy-to-let lender Paragon has updated its buy-to-let mortgage products for Spring 2019.
The refreshed range includes a choice of 2 and 5-year fixed rate mortgages for portfolio landlords and a selection of 5-year products for smaller-scale landlords, with different options for mortgages up to 75% and 80% loan-to-value.
John Heron (pictured), director of mortgages at Paragon said: “The refreshed range gives landlords a wide choice of options to suit their needs depending on the size and complexity of their property portfolio, as well as an opportunity to reduce their up-front costs with a range of cashback and limited up-front fees.”
Paragon’s portfolio range is designed for landlords with four or more mortgaged properties, as well as those operating in limited companies or limited liability partnerships and can be used to finance single self-contained units (SSCs), multi-unit blocks (MUBs) or houses is multiple occupation (HMOs).
For SSC units at 75% LTV, highlights from the portfolio range include a 2-year fixed rate mortgage at 3.35% with no product fee, a free mortgage valuation and £400 cashback and a 5-year fixed rate mortgage at 3.69% with a £999 product fee and a free mortgage valuation for loans up to £500,000.
For MUBs and HMOs at 75% LTV, the refreshed portfolio range includes a 2-year fixed rate mortgage at 2.95% with a 1.00% product fee, a free mortgage valuation and £400 cashback and a 5-year fixed rate mortgage at 3.75% with a £999 product fee and a free mortgage valuation for loans up to £500,000.
In the non-portfolio range, new options include 5-year fixed rate mortgages with no product fee, no application fee, a free mortgage valuation and £250 cashback at 3.75% on loans up to 75% LTV and at 3.95% on loans up to 80% LTV.