Pink Home Loans has launched a semi-exclusive fixed buy-to-let product in conjunction with Paragon. The product offers a competitive headline rate of 3.95%, fixed until February 28 2007.
The product is available to first-time buyers, professional landlords, portfolio applications and limited companies and is available for single properties or for portfolio purchases.
David Copland, marketing director at Pink, says: This product is ideal for the experienced investor wishing to make improvements to a new property prior to renting it out. The low headline rate allows the client to prepare the property for the rental market without having to fund a hefty mortgage repayment whilst the property is not benefiting from generating income.
Copland adds: The intermediary will also benefit from sales of this product, as all applications submitted to Paragon before November 30 2005 and completing by March 31 2006 will receive an additional 0.25% commission, providing a win-win situation for all parties.
Dean Lawson, principal at Hannant Lawson, says: “What a welcome addition to an already competitive buy-to-let market place. At a time when service levels are an issue within the industry, it is an added bonus that the deal offered by Paragon, who are renowned for their excellent service standards.”