The mortgage firm specialising in buy-to-let loans, Paragon has announced that it is reducing the rates for 14 of the deals that it provides, as part of the process of reviewing its current offer.
The revised mortgage deals that the company will now be offering customers will include multiple occupancy home and multi-flat block loans, in addition to both discount variable and fixed rate deals and loans for landlords with or without property portfolios.
Those who have mortgages on at least four buy-to-let properties will be able to get interest rates of 3.19% on five-year fixed mortgages or 2.75% on two-year fixed deals. Current standard interest rates for fixed-rate deals with loan to value levels of 80% are 3.75% if it is a five-year deal and 3.45% for two-year ones.
Under the terms of the new deals that have been unveiled by Paragon, landlords without a portfolio are being offered starting interest rates of 2.65% for a two-year fixed rate mortgage and 3.45% for a five-year one.
Speaking to FT Adviser about this new slate of products, Paragon’s director of mortgage sales, Moray Hulme, stated:
“This new product range caters for the professional landlord with competitive pricing, low or zero product fees, free valuations and cash back offers.”
With new mortgage products being announced by the major providers all the time, the support of a qualified advisor who has completed a course with a CeMAP training company is crucial for borrowers to be able to get the best possible loan for their needs.
