Paragon relaunches green BTL range

Paragon Bank has relaunched its BTL green product range by introducing preferential pricing for energy-efficient properties across its entire standard product offering.

The lender has added a green version for every standard BTL product, all of which offer a 10 percentage point price reduction for properties with A-C EPC ratings.

The green offering has also been extended to all property types, including single self-contained units (SSC), HMOs and MUBs.

The relaunch of the green suite is part of a wider refresh of Paragon Bank’s BTL range, which includes the reintroduction of 80% LTV options across standard products.

Paragon has also amended its portfolio range, making the rates available for SSCs, HMOs and MUBs the same.  

Prices for the portfolio suite start from 2.95% for 70% LTV products, rising to 3.05% at 75% LTV and 3.99% at 80% LTV. 

All products come with free valuation and a mix of either cashback or no application fees.

Richard Rowntree, director of mortgages at Paragon Bank (pictured above), said: “We have strengthened our green proposition to encourage landlords to add more energy efficient properties into the private rented sector.

“The energy efficiency of the PRS has improved significantly over the past 10 years, but we know more needs to be done as the UK moves towards a carbon zero target. 

“The first step is encouraging changing buying behaviour so that more properties with EPC A-C are added to the sector. 

“The next, more challenging, step will be to upgrade existing homes in the PRS and we are looking at numerous ways we can help our landlord customers to achieve that.

“This is a complex area, but it’s something we must all address.”

Earlier this month, Paragon Bank has also doubled the maximum loan amount on an individual property and the total BTL borrowing limit within the company for portfolio landlords.

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