Paragon launches green further advance products

Paragon Bank is expending its energy efficient range with two further advance products for properties with EPC ratings of A, B or C.

Related topics:  Mortgages
Rozi Jones
28th April 2021
Moray Hulme Paragon new
"We are committed to encouraging our landlords to invest in energy efficient properties, thereby increasing the proportion of A-C rated properties in the private rented sector."

The products are suitable for landlords who have four or more mortgaged buy-to-let properties and are looking for additional funding for lettings businesses they manage as individuals, limited companies or limited liability partnerships.

The 75% LTV further advances are available on HMOs multi-unit blocks or single self-contained units in England and Wales.

On HMOs and MUBs rates are fixed at 3.50% for two years and 3.75% over five years. Rates start at 3.35% on two-year fixes for SSCs, rising to 3.70% when borrowed over a five-year term.

All products have no product fee, no application fee and are offered with a free valuation.

Moray Hulme, director of mortgage sales at Paragon, said: “We are committed to encouraging our landlords to invest in energy efficient properties, thereby increasing the proportion of A-C rated properties in the private rented sector.

“In March we launched products with market-leading rates to incentivise the purchase or remortgage of properties with EPC rating of A-C. We had a fantastic response to these and wanted to build on this to offer more choice for landlords who wish to improve the sustainability of their lettings businesses.”

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