Paragon Bank has refreshed its buy-to-let (BTL) mortgage offerings, now providing options with loan-to-value (LTV) ratios up to 80%. This change is significant for landlords and property investors, as it enhances financing opportunities for both purchases and remortgages across England, Scotland, and Wales.
What are the new rates and products available?
The updated BTL range features rates beginning from a competitive level for products at various LTV ratios. Notably, there are two-year fixed rates available for properties with energy performance certificate (EPC) ratings of A-C, as well as options for properties with lower EPC ratings. For those seeking longer-term stability, five-year fixed rates are also included in the new offerings.
Who can benefit from these changes?
This update is particularly beneficial for individual and limited company landlords. The new offerings cater to various property types, including houses in multiple occupation (HMOs) and multi-unit blocks (MUBs). This flexibility allows landlords to adapt to their financing needs amidst volatile market conditions.
What this means for the mortgage market
With Paragon’s refreshed BTL range, landlords can access more competitive rates and higher LTV options. This is important for those looking to expand their property portfolios or refinance existing properties. As market conditions evolve, landlords should monitor interest rates and consider how these new products align with their investment strategies.
Frequently asked questions
What is the maximum LTV offered by Paragon Bank?
Paragon Bank now offers buy-to-let mortgages with a maximum loan-to-value ratio of 80%.
Are the new mortgage products available for both individual and limited company landlords?
Yes, the refreshed buy-to-let range is available to both individual and limited company landlords across England, Scotland, and Wales.