Paragon re-enters student buy-to-let market

Paragon Bank has resumed accepting applications on buy-to-let properties that are, or will be, let to students.

Related topics:  Mortgages
Rozi Jones
2nd November 2020
Moray Hulme Paragon new
"We wanted clarity on whether students would return for the 2020/21 academic year, which they have done even if lectures are being held remotely."

The specialist buy-to-let mortgage lender is offering a range of two-year and five-year fixed rate options, available on HMOs and multi-unit blocks.

At 70% LTV, two-year fixed rates start at 3.05% and five-year rates from 3.44%.

At 75% LTV, two-year rates are available at 3.35% and five-year rates start from 3.74%, both with £350 cashback.

Two-year mortgages comes with a 1% fee and five-year deals incur a 2% fee. All products include a free valuation.

Moray Hulme, director of mortgage sales at Paragon, said: “We are pleased to have re-entered the student market, offering intermediaries some strong products that we feel are well suited to meet the robust demand we are currently experiencing.

"We wanted clarity on whether students would return for the 2020/21 academic year, which they have done even if lectures are being held remotely.”

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