Paragon expands portfolio range with two new products

Paragon bank has announced that it has launched two new five-year fixed rate products to its portfolio product range aimed at landlords who are purchasing or remortgaging single self-contained properties in their personal names or through their limited company.

Related topics:  Landlords
Property Reporter
4th March 2021
Moray Hulme - Paragon Bank 722

According to the lender, both products come with a free mortgage valuation and a maximum loan size of £750,000 up to 75% loan-to-value (LTV), £1m up to 70% LTV and £2m up to 65% LTV.

The first product has an initial rate of 3.44% and a product fee of 2% while the second has an initial rate of 3.50% and a 1% product fee.

Moray Hulme, Director for Mortgage Sales said: “In response to the current strong demand and ahead of the imminent budget announcement, we have reviewed our product range.

“We have decided to offer two products that give landlords who are interested in either purchasing or remortgaging on single self-contained properties a couple of well-suited options.

“This comes ahead of a significant re-structuring of our product range and we look forward to sharing more information once it is available.”

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