Managing director of Mortgages for Business, David Whittaker said, “Over the past couple of years we have worked closely with Paragon assisting in the redesign of loan stance and credit criteria to help ensure a selection of competitive products that suit the funding requirements of professional property investors.
“The dramatic withdrawal of lenders and products during the credit crunch severely limited the funding options for many portfolio property investors. The majority of lenders that remained in the market preferred to stick with ‘vanilla’ buy to let products for novice and small-scale landlords.”
David Whittaker added, “We are particularly pleased to see the focus on facilities for more complex buy-to-let scenarios including Houses in Multiple Occupation, multi-unit blocks and mortgages for Limited Companies.”
Products available from Paragon Mortgages include trackers up to 75% LTV, two-year fixed rates at 5.3% up to 65% LTV and 5.5% at 65% LTV.