Specialist buy-to-let lender Paragon Mortgages has updated its range of products for large-scale, professional landlords.
The rang now includes a 4 per cent lifetime tracker with a 1.5 per cent fee at 65 per cent loan-to-value and a 4.25 per cent two year tracker with a 2 per cent fee at 75 per cent LTV.
With demand from landlords for longer-term fixes, the lender has also launched a 4.8 per cent five-year fix with a 2 per cent fee at 75 per cent LTV. There are also six two-year fixed rate products, starting at 3.75 per cent with 2 per cent fees at 75 per cent LTV.
The refreshed range includes products for single, self-contained units. There are 18 products in total, catering for landlords with larger rental portfolios, including multi-unit blocks and houses in multiple occupation.
A range of different product fees and early repayment charges are also available.
John Heron, managing director of Paragon Mortgages, said he has witnessed a strong increase in tenant demand throughout this year and it is important that professional landlords expand the supply of rental property to help satisfy this demand.
“We know that landlords regard flexibility above all else, as well as products that suit varying requirements, so this new range includes both trackers and fixes for two years and longer terms of five years, so there is something to suit landlords’ bespoke needs.”
peter.walker@ft.com
