Paragon Bank

Paragon Bank relaunches limited edition BTL products

Paragon Bank has reintroduced two limited edition products for HMOs and MUBs.

The two mortgages, both offered at 75% LTV, are available at 2.85% and 3.34% for two-year and five-year fixed terms, respectively.

Both products — suitable for experienced individuals or limited company borrowers — include a free valuation and £750 cashback.

The two-year offering has a 1% product fee and the APRC is set at 4.20%, while the five-year has a 2% product fee with APRC charged at 4.10%.

For a limited time, the specialist lender is also only charging one application fee on multiple property applications.  
Moray Hulme, director of mortgage sales at Paragon Bank (pictured above), said: “We’ve seen that despite the changes to the stamp duty holiday that came into effect at the end of June, the market for rental properties is very much still an active one. 

“A key driver of this is likely to be the strong tenant demand, which we have now seen for a sustained period. 
“We received an overwhelming response when we launched these limited edition products previously and have now added a limited time deal where only one application fee is charged, regardless of how many properties are purchased. 

“In this, we feel we have a really competitive offering that should appeal to investors interested in making the right additions to their portfolios.”

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