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Paragon resumes BTL lending on student lets

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  • 02/11/2020
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Paragon resumes BTL lending on student lets
Solihull-headquartered Paragon Bank has restarted taking applications on buy-to-let properties that are, or will be, let to students.

The specialist buy-to-let mortgage lender is offering a range of two-year and five-year fixed rate options, available on Houses in Multiple Occupation (HMOs) and multi-unit blocks.

A 70 per cent loan-to-value (LTV) range starts at 3.05 per cent over two years, rising to 3.44 per cent when spread over a five-year term.

For landlords looking for 75 per cent LTV products, Paragon offers a rate of 3.35 per cent on a two-year fixed rate and two five-year choices are offered at 3.74 per cent and 4.2 per cent respectively, both with £350 cashback.

Two-year mortgages incur a one per cent fee and two per cent is charged on five-year deals. A free valuation is included with these products.

Moray Hulme, Paragon director of mortgage sales, said: “We are pleased to have re-entered the student market, offering intermediaries some strong products that we feel are well suited to meet the robust demand we are currently experiencing. We wanted clarity on whether students would return for the 2020/21 academic year, which they have done even if lectures are being held remotely.”

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