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Paragon expands buy-to-let range to expat landlords and holiday lets
Paragon has extended its buy-to-let mortgage range to expat landlords with rental property in the UK and to holiday lets.
Mortgages for expat landlords are available at up to 70% loan to value (LTV) to a maximum of £750,000, and for LTVs of up to 65%, to a maximum of £1m.
Mortgages for holiday lets are available up to a 70% LTV for loan amounts up to a maximum of £500,000.
All of Paragon’s new products are available via mortgage intermediaries for individual and limited company landlords with single, self-contained units.
Paragon’s holiday let mortgages can be assessed on Assured Shorthold Tenancy (AST) rental income or proven, historic holiday let income.
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John Heron, managing director of mortgages at Paragon (pictured), said: “We are really pleased with these product changes and hope that they will be received well by our intermediary partners.
“We have looked very carefully at the customer journey for expat buy-to-let landlords and have identified a number of areas where we think it can be simplified and improved. Similarly, with our holiday let criteria we are recognising how landlord strategies can change in the face of a more fluid rental market.”