Paragon expands buy-to-let range and removes floating charges

Rozi Jones
11th January 2018
John Heron Paragon

Paragon has extended its range of portfolio and non-portfolio buy-to-let mortgage products.

Additionally, the lender has removed the requirement of a floating charge on all limited company applications incorporated solely for the activity of holding and letting residential properties.

Among the new portfolio buy-to-let products is a two-year fixed rate at 3.49% up to 80% LTV on SSC units, and at 3.69% for borrowing up to 80% LTV on HMO/MUB properties.

Four new portfolio switch products include a two-year fixed rate at 3.99% on borrowing up to 80% LTV on SSC units.

Non-portfolio products include a two-year fixed rate at 3.55% and a five-year fix at 3.90%, both for borrowing up to 80% LTV on SSC units.

This is the latest in a recent succession of developments from Paragon, following the launch of a new CaseTracker app and the removal of valuation and admin fees on all Portfolio products.

John Heron, Managing Director – Mortgages at Paragon, said: “Paragon has always been known for its specialist lending capability and particularly its focus on professional landlords. These new competitive products for portfolio landlords underline this approach and are supported by ongoing developments in our lending policy and service delivery.
“For us, it’s all about offering choice and making the portfolio application process as straightforward as possible. This extended range of products, along with the removal of floating charges, valuation and admin fees, and the ability to manage everything online or through the CaseTracker app does just that.”

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