Landlords Association Recent Landlord News Paragon cuts interest rates on 14 landlord mortgages

Paragon cuts interest rates on 14 landlord mortgages

British-Landlords-Association-mortgages-2019-BLAThe buy-to-let specialist lender has kicked off 2020 with a new range of mortgage products, targeting professional landlords.

Paragon has chopped costs on its range of mortgage products for portfolio and non-portfolio landlords.

The changes made by the specialist bank and buy-to-let lender include lower rates on 14 different products across its range of mortgages, up to 80% of the property’s value.

What’s new?

The range for portfolio landlords – those with four or more mortgaged properties – includes fixed rates starting at 2.75% for those looking to purchase or remortgage and 2.85% for landlords seeking finance for houses in multiple occupation (HMOs), such as houseshares.

Highlights for portfolio landlords include a five-year and two-year fixed rate at 3.19% and 2.75% respectively, said the lender, both of which come with free valuation and £350 cashback.

Fixed and discount variable rates for non-portfolio landlords – with one two, or three mortgaged properties – now start at 3.45% and 2.65%.

Landlords can choose from a range of two and five-year term products with a mix of low fee and fee-free mortgages as well as cashback offers.

All products are available to individual landlords, as well as those operating in limited companies and limited liability partnerships.

Moray Hulme, director of mortgage sales at Paragon, said: “In recent years, landlords have had to be more strategic in their approach than ever before and the buy-to-let market has seen a significant increase in portfolio and complex business.

“This new product range caters for the professional landlord with competitive pricing, low or zero product fees, free valuations and cash back offers.

Source: Your Mortgage

Author: Christina Hoghton

Date: 7th of January 2020

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