Paragon announces new range of BTL products

Paragon has announced the launch of a new range of BTL purchase and remortgage products for portfolio and non-portfolio landlords.

The specialist BTL lender said the products will come with rates discounted for two and five years – starting at 2.65% at 75% LTV – for individuals, limited companies and limited liability partnerships.

For SSC units at 75% LTV, Paragon announced its highlights from the discounted portfolio range will include a two-year discounted variable rate mortgage at 2.65%, representing a 2.95% reduction from Paragon’s SVR.

The lender also said that for HMOs at 75% LTV, its discounted portfolio range will include a two-year discounted variable rate mortgage at 2.80%, representing a 2.80% discount from SVR.

Paragon announced its discounted products will feature a free valuation and no application fee.

Paragon director of mortgages, John Heron, commented: “Whilst there is an overwhelming preference in the market for fixed rate mortgages, we are introducing these discounted variable rate products now to make sure that our landlords have a strong variable rate option at a time of heightened economic and political uncertainty.”

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