Paragon offers new discounted variable rate products

Published on

Paragon has unveiled a new range of buy-to-let purchase and remortgage products for portfolio and non-portfolio landlords.

Rates are discounted for two and five years starting at 2.65% at 75% loan to value (LTV) for individuals, limited companies and limited liability partnerships.

All discounted products also feature a free valuation and no application fee.

Paragon’s portfolio range is designed for landlords with four or more mortgaged properties, as well as those operating in limited companies or limited liability partnerships and can be used to finance single self-contained units (SSCs), multi-unit blocks (MUBs) or houses in multiple occupation (HMOs).

For SSC units at 75% LTV, highlights from the discounted portfolio range include a two-year discounted variable rate mortgage at 2.65%, representing a 2.95% reduction from Paragon’s standard variable rate (SVR), with no application fee and a free valuation.

For HMOs at 75% LTV, the discounted portfolio range includes a two-year discounted variable rate mortgage at 2.80%, a 2.80% discount from SVR, also with no application fee and a free valuation.

There are two discounted products available to non-portfolio landlords, for SSC units at 75% LTV. These are a two-year discounted variable rate mortgage at 2.65%, discounted by 2.95% from SVR, and a five-year discounted variable rate mortgage discounted by 2.65% at 2.95%, both with no application fee and a free valuation.

John Heron, director of mortgages at Paragon, said: “Whilst there is an overwhelming preference in the market for fixed rate mortgages, we are introducing these discounted variable rate products now to make sure that our landlords have a strong variable rate option at a time of heightened economic and political uncertainty.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Your First Home delays could stall first-time buyer market

Delays in launching the government's Your First Home scheme could cause first-time buyers to...

Foundation recruits former Metro Bank BDM to cover eastern region

Foundation has appointed Foz Ahmad as regional account manager for the East, bringing 12...

TMG Mortgage Network strengthens finance team with senior appointment

TMG Mortgage Network has appointed Donna Bibby as head of finance, with responsibility for...

Homeowners turn to mortgage brokers for guidance ahead of Budget

Mortgage brokers could face increased demand for advice following the Autumn Budget, with 93%...

Halifax updates mortgage application platform ahead of Lloyds rebrand

Halifax Intermediaries has introduced an updated online mortgage application system designed to simplify case...

Latest publication

Other news

Your First Home delays could stall first-time buyer market

Delays in launching the government's Your First Home scheme could cause first-time buyers to...

Advisers should be brave enough to drown out the noise

If you thought the economic and mortgage market commentary had been particularly noisy recently,...

Foundation recruits former Metro Bank BDM to cover eastern region

Foundation has appointed Foz Ahmad as regional account manager for the East, bringing 12...