Paragon expands buy-to-let offering in Scotland

House-For-Rent-Home-700.jpgParagon is now offering its portfolio mortgage range to landlords in Scotland.

These portfolio products are designed for landlords with four or more mortgaged properties, as well as those operating through limited company or limited liability partnerships.

These mortgages can be used to finance single self-contained units, houses in multiple occupations as well as multi-unit blocks. Products are available for both purchase and remortgages.

Paragon is a specialist buy-to-let lender. It has previously offered buy-to-let loans in Scotland but not on a portfolio basis.

The lender says it will  shortly appoint a new regional sales manager for Scotland to support its expansion in this region.

The private rented sector in Scotland has more than doubled in size since 1999, and now accounts for more than a seventh of all homes in Scotland.

It is estimated that the number of private rented properties in Scotland has increased from 224,000 in 2006 to 394,000 in 2016.

Paragon’s director of mortgages John Heron says: “The introduction of new PRA underwriting rules for portfolio landlords has impacted the buy-to-let market across the UK and we’re delighted to extend our portfolio range into the Scottish market.”

 

Recommended

House-Building-Construction-700.jpg

Paragon buys Titlestone in £48m deal

Paragon Banking Group has bought residential development finance lender Titlestone in a £48m deal. At the same time Paragon has acquired a portfolio of development finance loans for around £226m from a series of special purpose vehicle companies. Both Titlestone Property Finance and these SPVs are owned by Oaktree Capital Management. Paragon says this latest […]

buy-to-let

UK rent rises subdued, but London sees growth

The latest Landbay Rental Index shows that London rents rose by 0.10 per cent for the year ending 29 June – the first annual rise since December 2016. For the first half of the year, cumulative rents moved upwards by 0.13 per cent. Meanwhile, UK-wide growth rose by 0.4 per cent cumulatively for the first […]

UK: mid-year review and outlook

By Mark Martin, manager of the Neptune UK Mid Cap Fund, and Scott MacLennan, manager of the Neptune UK Opportunities Fund H1 2014• Equity markets continued to show strength: despite a strong rally in 2013 driven by a market-wide re-rating, equity markets continued to generate positive returns for investors. Economic activity continued to be stimulated […]

Newsletter

News and expert analysis straight to your inbox

Sign up