Paragon Bank has introduced £1,000 cashback across 21 products within its buy-to-let mortgage range, helping towards the costs associated with completing a purchase or remortgage.
The cashback applies across a selection of five-year fixed rate products for single self-contained properties, as well as HMOs and multi-unit blocks (MUBs).
The range includes both percentage fee and fee-free options, alongside free valuation, with the £1,000 cashback paid on completion. Products are available for both purchase and remortgage, with a range of pricing options across the different LTV bands.
Five-year fixed rate products within Paragon’s recently launched Tailored range also benefit from the £1,000 cashback. The Tailored proposition enables brokers to structure applications more flexibly around a landlord’s specific circumstances, particularly in more complex cases.
James Harrison, mortgages product manager at Paragon Bank, said: “We’ve seen consistently strong demand for cashback products, particularly within our two-year fixed range where £500 options have been well received by brokers and their landlord clients.
“Extending this across a broader selection of five-year fixed products, and increasing the amount to £1,000, reflects that feedback. It also comes at a point where landlords are often managing a number of costs around a transaction, from legal fees through to property improvements, and the cashback can help to offset some of that outlay at completion.
“As with the rest of our range, the breadth of fee options remains, enabling brokers to structure cases in line with individual client preferences and portfolio strategies.”
