"Our intermediary partners are fundamental to ensuring the right products are delivered to the right customers."
Paragon says the 0.25% procuration fee will be payable where the broker is acting on behalf of existing buy-to-let customers in the product switch process.
John Heron, Managing Director at Paragon Mortgages, said: “Our intermediary partners are fundamental to ensuring the right products are delivered to the right customers. We have made significant improvements in our range of switch products which we believe compare very well with options available elsewhere in the market.
“Where a broker recommends a Paragon switch product and is proactively engaged in the process, we believe that it is appropriate that the intermediary is rewarded.”