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Paragon expands BTL range to expats and holiday homes

Paragon has announced that its buy-to-let mortgage range will now extend to expat landlords who have property in the UK and to holiday lets in the country.

Products for expat landlords are available at up to 70 per cent LTV to a maximum of £750,000, and for LTVs of up to 65 per cent, to a maximum of £1m. For holiday lets, on up to 70 per cent LTV the maximum loan amount is £500,000.

The mortgage range covers both individuals and limited company landlords for single, self-contained units.

Paragon managing director of mortgages John Heron says: “We have looked very carefully at the customer journey for expat BTL landlords and have identified a number of areas where we think it can be simplified and improved.

“Similarly, with our holiday let criteria we are recognising how landlord strategies can change in the face of a more fluid rental market.”

The lender recently reported that over half of all BTL business consists of remortgage transactions.

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