Paragon launches 50 BTL products
Paragon has launched 50 buy-to-let products today with 44 under the Paragon Mortgages brand and six under Mortgage Trust.
The products launched by Paragon Mortgages have been designed to cater for professional landlords.
The six products under the Mortgage Trust brand have been created with amateur landlords in mind.
Paragon said tenant demand was set to continue to increase over the next 12 months and more pressure would be put on the private rental sector to cater for the influx. It believes professional landlords require access to products that met their specific requirements so that they can grow their business.
John Heron, managing director of Paragon Mortgages, said: "The new mix of products has been created to enable intermediaries to offer their landlord clients a flexible and open approach when looking for a Buy-to-let mortgage.
"I would encourage intermediaries not to shy away from approaching us if they receive a more complex or unusual request from a professional landlord as we have extensive knowledge of how they operate, the type of funding they require and specific expertise in dealing with complex-buy-to-let property purchases."
Heron added that one of Paragon's key advantages was the ability to use its experience to look through the detail at the fundamentals of risk and exercise a good degree of flexibility around non-core aspects of the proposal.
He said: "The private rental sector undoubtedly needs to expand this year to meet the growing demand. We hope that the creation of these new products will help intermediaries increase their offering to landlords and write more business."
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