Paragon Bank, the specialist lender, has relaunched its limited edition loans for HMOs and multi-unit blocks. These are both designed for experienced landlords who either have properties in their own name or through a limited company.
These products both come with a complimentary mortgage valuation and £750 cashback. In addition, only one application fee will be charged on multiple property applications for a limited time.
Both mortgages are available at 75% LTV, with a two-year fix at 2.85% and a five-year fix at 3.34%. The two-year product has a 1% product fee, with APRC set at 4.20%, whilst the five-year finance has a 2% product fee and APRC set at 4.10%.
Paragon director of mortgage sales Moray Hulme said: “We’ve seen that despite the changes to the stamp duty holiday that came into effect at the end of June, the market for rental properties is very much still an active one.
“A key driver of this is likely to be the strong tenant demand which we have now seen for a sustained period.
“We received an overwhelming response when we launched these limited-edition products previously and have now added a limited-time deal where only one application fee is charged regardless of how many properties are purchased.
“In this, we feel we have a really competitive offering that should appeal to investors interested in making the right additions to their portfolios.”
Original article featured here…
Earlier this month, Paragon released its latest research, with over 750 landlords surveyed on its behalf by data group BVA BDRC. The results show the number of landlords reporting higher tenant demand is at a five year high.