Paragon has launched a new range of limited edition buy-to-let mortgage products for landlords who have four or more mortgaged properties.
Landlords borrowing up to 75% loan-to-value (LTV) on shared services centre (SSC) units get a two-year fixed rate at 3.40% while those borrowing up to 75% LTV on houses in multiple occupation (HMO) and multi-use building (MUB) properties will get a two-year fixed rate at 3.60%.
The range also caters for landlords looking for longer term cost certainty and includes a five-year fixed rate at 3.74% for borrowing up to 75% LTV on SSC units, and a five-year fixed rate at 3.84% up to 75% LTV for borrowing on HMO and MUB properties. All products feature a free mortgage valuation.
What’s more, the products include £250 cashback upon release of funds for customers who select a two-year fixed rate mortgage and £500 for those who elect for a five-year fixed rate.
“Our new limited edition buy-to-let range brings added choice and flexibility for portfolio landlords looking to refinance or expand,” said John Heron, managing director of mortgages at Paragon.
“The addition of cashback provides an extra boost, helping landlords fund the up-front costs associated with arranging finance and enhancing value for this important segment of the market.”