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Paragon refreshes buy-to-let mortgage range

Paragon has updated its buy-to-let mortgage products for spring 2019.

The restored range includes a choice of two and five-year fixed rate mortgages for portfolio landlords and a selection of five-year products for smaller-scale landlords, with different options for mortgages up to 75% and 80% loan-to-value (LTV).

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.

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The range 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 portfolio range include a two-year fixed rate mortgage at 3.35% with no product fee, a free mortgage valuation at £400 cashback and a five-year fixed mortgage at 3.69%. There is also a £999 product fee and a free mortgage valuation for loans up to £500,000.

Meanwhile, MUBs and HMOs at 75% LTV include a two-year fixed rate mortgage at 2.95% with a 1% product fee, a free mortgage valuation and £400 cashback. There is a five-year fixed rate mortgage with a £999 product fee and a free mortgage valuation for loans up to £500,000.

In the non-portfolio range, new options include five-year fixed rate mortgages with no product fee, no application fee, a free mortgage valuation and £250 cashback at 3.75% on loans up to 75% LTV and at 3.95% on loans up to 80% LTV.

John Heron, director of mortgages at Paragon, said: “The refreshed range gives landlords a wide choice of options to suit their needs depending on the size and complexity of their property portfolio, as well as an opportunity to reduce their upfront costs with a range of cashback and limited upfront fees.”

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