The cashback applies across a selection of products for single self-contained properties, as well as houses in multiple occupation (HMOs) and multi-unit blocks (MUBs).
The range includes both percentage fee and nil-fee options, alongside free valuation, with the £1,000 cashback paid on completion. Products are available for both purchase and remortgage, with a range of pricing options across the different loan-to-value (LTV) bands.
Mortgage deals within Paragon Bank’s recently launched Tailored range are also included in the cashback offer. The Tailored proposition enables brokers to structure applications more flexibly around a landlord’s specific circumstances, particularly in more complex cases.
James Harrison, mortgages product manager at Paragon Bank, said: “We’ve seen consistently strong demand for cashback products, particularly within our two-year fixed range, where £500 options have been well-received by brokers and their landlord clients.
“Extending this across a broader selection of five-year fixed products, and increasing the amount to £1,000, reflects that feedback. It also comes at a point where landlords are often managing a number of costs around a transaction, from legal fees through to property improvements, and the cashback can help to offset some of that outlay at completion.”
Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let
Sponsored by Aldermore
