Mortgage News
Paragon cuts two-year fixed rates
Paragon Mortgages, the specialist buy-to-let lender, has reduced rates on its two-year fixed products for professional landlords by 0.15%.
The three products are fixed for two years and offered at 5.15%, 5.25% and 5.35% against maximum loan-to-values of 65%, 70% and 75% respectively.
John Heron, Paragon Mortgages managing director, said: “With landlord confidence rising and increasing tenant demand in the Private Rented Sector, these reduced rate products are available to those professional landlords who are looking to take advantage of market conditions and expand their existing portfolios.
“Due to our specialist lending criteria we are also able to offer facilities to suit landlords who are looking to invest in multi-unit blocks, Houses of Multiple Occupancy (HMO) and limited company lending,” he added.
Paragon Group, the firm’s parent company reported buy-to-let lending of £65.7m for the three months to the end of June and has confirmed it expects to launch its first securitisation since the credit crunch before the end of the year. Its last securitisation was on 27 July 2007.
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