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Virgin brings out exclusive products; Paragon launches discounted SVR deals – round-up

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  • 21/10/2022
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Virgin brings out exclusive products; Paragon launches discounted SVR deals – round-up
Virgin Money has released a range of exclusive products for purchase and remortgage which come with a £300 cashback.

This includes a two-year fixed rate at 85 per cent LTV at 5.89 per cent for purchase deals.

On the remortgage side, the lender has added a two and five-year fixed rate at 75 per cent LTV, priced at 5.59 per cent and 5.45 per cent respectively.

Virgin has also brought out a two and five-year fixed rate buy-to-let deal at 60 per cent LTV at 5.99 and 5.69 per cent respectively.

All products are subject to a £1,295 fee and remortgage deals come with a free valuation.

The lender added that it may withdraw these deal at any time without usual notice.

 

Paragon adds four discounted SVR products

Buy-to-let specialist Paragon has brought out four discounted Standard Variable Rate (SVR) products aimed at portfolio landlords.

The products are aimed at those with four or more mortgage properties purchasing or remortgaging houses in multiple occupation, multi-unit blocks and single self-contained properties.

The four products are available at 75 per cent LTV and span 12 months, two-year, three-year and five-year terms.

Rates start from 3.99 per cent and come with free mortgage valuations.

Its 12-month deal has an initial rate of 6.1 per cent, the two-year discounted deal is 4.09 per cent and 3.99 per cent if the property has an Energy Performance Certificate between A and C.

Three-year deals are priced at 4.39 per cent and 4.39 per cent with an EPC rating between A and C. The five-year deals have a rate of 4.59 per cent, and 4.49 per cent with higher EPC rating.

Two-year deals come with a one per cent product fee, and the three and five-year deals are subject to a £5,000 product fee.

Moray Hulme, director for mortgage sales at Paragon, said: “Speaking to brokers, we know that for all of the economic turmoil of the past few weeks, landlords are still seeking to modify their portfolios in response to sustained strong tenant demand.

“To support this investment, we have launched four discounted SVR products that provide landlords with flexibility and prices that are competitive in today’s market.”

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