Paragon Bank Launches New Buy-to-Let Range
Paragon Bank has launched a limited-edition range of buy-to-let mortgages, including two and five-year fixed rates for portfolio landlords.
The four new 75 per cent loan-to-value (LTV) rates start from 2.75 per cent, are available for both purchase and remortgage and come with free valuations and £750 cashback. The deals are available across Single Self-Contained (SSC) units and Houses in Multiple Occupation (HMO). They include:
|Term||LTV||Property type||Initial rate||Product fee||Valuation||Cashback|
|2 years||75 per cent||SSC||2.75 per cent||1 per cent||Free||£750|
|2 years||75 per cent||HMO/MUB||2.85 per cent||1 per cent||Free||£750|
|5 years||75 per cent||SSC||3.10 per cent||2 per cent||Free||£750|
|5 years||75 per cent||HMO/MUB||3.34 per cent||2 per cent||Free||£750|
Moray Hulme, director of mortgage sales at Paragon Bank, said: “With the Stamp Duty holiday tapering down at the end of the month, landlords will be looking for competitive rates as they seek to add new property to their portfolio. We are confident these limited-edition rates will be popular with our portfolio landlord customers seeking to purchase new properties or remortgaging existing deals. The free valuation and £750 cashback should also be appealing to landlords.”
All four rates are available for personal or limited company borrowing. Paragon classes a portfolio landlord as one with four or more mortgaged buy-to-let properties.