Paragon Bank has strengthened its new build property proposition, supporting landlords to invest in new, energy efficient homes.
It’s also launching a new broker portal dashboard that delivers what it calls “a simpler, smarter way to manage applications.”
Landlords purchasing new build properties can now benefit from the certainty of buy-to-let mortgage offers that are valid for six months, up from three previously.
To offer greater flexibility, landlords can request that the selected product is retained for a further three months beyond the original six month offer of loan validity.
Beyond six months, a physical reinspection and reassessment of the application will be required.
This also means that houses being purchased off-plan or part built, that are developed by a National House Builder, will not require a further physical internal property reinspection, delivering time and cost savings for borrowers.
James Harrison, Buy To Let product manager at Paragon Bank, says: “These proposition improvements are supporting landlords to invest in new build homes, helping to bring good quality into the private rented sector.
“New build homes often benefit from EPC ratings of C or above so we’re anticipating demand for these properties to increase following the recent announcement of minimum energy efficiency standards reforms within the PRS.”
Paragon has also launched a new broker portal dashboard.
Brokers can apply for a range of products, including buy-to-let and refurb-to-let, product switches and further advances, in one click.
All cases can be seen in one dashboard, with clear statuses up front, and search and filter functionality enables brokers to quickly find applications by type or status.
Adding action tags helps brokers to instantly spot cases that need attention, and secure built-in messaging means they can send and receive updates without leaving the portal.
