View more on these topics

New five year fixed B2L range launched by Paragon Mortgages

Specialist lender Paragon Mortgages has added a new range of five year, fixed rate buy-to-let products to its range.

The new mortgages, targeted at individual and limited company landlords, offer interest rates starting at 3.75 per cent and are available at up to 75 per cent LTV.

The range includes funding for self-contained units as well as more complex HMO (house of multiple occupation) properties.

The new longer term fixed rate products feature a revised interest coverage calculation based on an interest rate assumption of 4 per cent with the interest coverage ratio (ICR) set at a minimum of 125 per cent for single self-contained units and 130 per cent for more complex HMO properties.

Paragon Mortgages managing director John Heron says that with interest rates forecast to remain low for some time, the lender has been able to offer longer term fixes.

“These are the first products we have launched which feature an ICR that reflects lower interest rate expectations and the reduced risk that customers on longer term fixed rates benefit from,” he says.



Paragon brings in six more B2L products

Paragon Mortgages is launching six new buy-to-let products and overhauling its product range. The lender is launching a two-year fixed rate products starting from 3.40 per cent with a 1.50 per cent fee at 65 per cent LTV for single self-contained units. Paragon is also bringing in a two-year fix at 3.75 per cent with […]

John Heron

Paragon tweaks criteria for limited company landlords

Paragon Mortgages is changing its lending criteria for limited company landlords following government tax relief tweaks. The buy-to-let mortgage provider is removing its exclusivity borrowing restriction for limited company landlords. The changes will let Paragon’s limited company landlords deal with other lenders. Paragon director of mortgages John Heron says: “We know from our latest research […]

John Heron

Paragon starts accepting consumer B2L customers

Paragon Mortgages now accepts applications for consumer buy-to-let via its sister brand Mortgage Trust. All existing products in the Mortgage Trust range will be available to consumer buy-to-let customers now – 4 days ahead of the launch of the Mortgage Credit Directive. However, Paragon will only accept consumer buy-to-let applications from intermediaries who are fully […]


News and expert analysis straight to your inbox

Sign up