Paragon expands buy-to-let product range

Michael Lloyd

January 11, 2018

Paragon has launched an extended range of buy-to-let mortgage products and removed the requirement of a floating charge on all applications from limited companies.

The new portfolio buy-to-let products include a 2-year fixed rate at 3.49% for borrowing up to 80% loan-to-value on SSC units, and a 2-year fixed rate at 3.69% for borrowing up to 80% LTV on HMO/MUB (multi-unit block) properties.

John Heron, managing director of mortgages, said: “Paragon has always been known for its specialist lending capability and particularly its focus on professional landlords.

“These new competitive products for portfolio landlords underline this approach and are supported by ongoing developments in our lending policy and service delivery.

“For us, it’s all about offering choice and making the portfolio application process as straightforward as possible. This extended range of products, along with the removal of floating charges, valuation and admin fees, and the ability to manage everything online or through the CaseTracker app, does just that.”

For four new portfolio switch products in Paragon’s portfolio buy-to-let range, there’s a 2-year fixed rate at 3.99% on borrowing up to 80% LTV on SSC units.

Paragon’s new non-portfolio further advance buy-to-let products include: a 2-year fixed rate at 3.55% and a 5-year fixed rate at 3.90%, both for borrowing up to 80% LTV on SSC units.

The removal of the requirement for a floating charge on limited company applications will improve service delivery and make applying to Paragon easier for buy-to-let mortgage intermediaries and customers.

This is the latest in a recent succession of key developments from Paragon, following the launch of a new CaseTracker app and the removal of valuation and admin fees on all portfolio products.

Paragon recently removed the valuation and admin fees on all portfolio products and launched a Case Tracker app, aviable to download from the Apple iTunes Store.

Existing Paragon intermediaries can log in using the same user credentials they use to apply online and manage their buy-to-let mortgage applications from a mobile, tablet, laptop or desktop device.

Inside the app, intermediaries will be able to: view their current list of pre-offer applications and associated outstanding tasks, select an account and view the tasks by open, pending and completed.

Brokers can respond to an outstanding task through the app, by uploading any comments and documents directly to Paragon’s underwriting system

They can also all or email the customer relationship team from the app.

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