Paragon cuts second charge rates

by: Specialist Lending Solutions
  • 09/07/2019
  • 0
Paragon cuts second charge rates
Paragon has reduced the interest rates on its second charge fixed and variable rate mortgage products.

Aimed at prime customers, Paragon’s second charge mortgage products are available at a maximum loan to value (LTV) of up to 85 per cent and offered at up to 30 years and with or without Early Redemption Charge (ERC).

The range includes a variable interest rate of 3.47 per cent, together with two-year fixed rate loans from 3.64 per cent, three-year fixed rates from 3.75 per cent and five-year fixed rates from 3.98 per cent.

The non-ERC range includes a 3.63 per cent rate, as well as two-year fixed rate loans from 3.64 per cent, three-year fixed rate loans from 3.75 per cent and five-year fixed rates from 3.98 our cent.

John Webb, second charge mortgages director at Paragon said: “This is a really exciting range of second charge mortgage products. The competitive interest rates are designed to broaden the appeal of the products to a wider range of intermediaries and offer them an alternative solution for customers who want additional mortgage borrowing without having to disrupt their existing arrangements.”

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