Moray Hume

Paragon launches larger BTL loan product

Paragon Bank has added a new five year fixed-rate offering for larger loans to its BTL range.

The 75% LTV product has an interest rate of 3.5% and includes a free mortgage valuation.

It has a fixed product fee of £3,500 and £299 application charge.

It is available on single self-contained (SSC) properties with loans between £350,000 and £1m.

Moray Hulme, director of mortgage sales at Paragon (pictured above), said: “This new product complements our existing range and provides landlords with more choice in the higher loan space.

“Through listening to introducers, we know that offering a flat fee on a higher maximum loan is competitive and presents good value for borrowers. 
“We know that there is currently strong demand for properties across the pricing spectrum, so this product will be a superb option for landlords who are expanding their portfolios through higher value purchases."

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