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Paragon expands buy-to-let offering in Scotland

Paragon expands buy-to-let offering in Scotland

Paragon has launched portfolio mortgages for buy-to-let (BTL) landlords in Scotland.

The specialist lender’s portfolio range is designed for landlords with four or more mortgaged properties, as well as those operating in limited companies and limited liability partnerships.

The portfolio range can be used to finance single self-contained units (SSC), houses in multiple occupation (HMOs) and multi-unit blocks (MUBs), with products available for purchase as well as remortgage.

Paragon has offered a limited range of buy-to-let mortgage products in Scotland for some time and today's (11 July) move adds a new layer of products suitable for landlords with larger and more complex portfolios.

John Heron, director of mortgages at Paragon, said: "Demand for portfolio lending is on the increase in Scotland and with fewer lenders choosing to offer suitable products for this segment, we have a unique opportunity to bring improved choice and competition for those looking to invest.”

Carl Shave, director of Just Mortgage Brokers, said: "Paragon's introduction of portfolio mortgages for those in Scotland is a welcome addition to the market. 

"This geographical area still has its limitations for availability but provides good rental yields for many buy-to-let investors. 

"Paragon's products will hopefully give much greater choice in the market for these portfolio landlords."

aamina.zafar@ft.com