The lender recently relaunched the range of loans for HMOs and multi-unit blocks, which is designed for experienced landlords who either have properties in their own name or through a limited company.
Now two products for Single Self-Contained units have also been relaunched within the range. These mortgages are offered at 75% LTV with a two-year fixed rate starting at 2.75%, and a five-year fix from 3.10%. Both come with free valuations and £750 cashback and are available for purchase and also remortgage. These rates are exclusively for portfolio landlords with four or more mortgaged BTL properties, which can be either in their name or through a limited company.
For the two year fix, product fees are set at 1.00% and for the five year at 2.00%, with APRC charged at 4.10% on both.
Richard Rowntree, Paragon Bank’s managing director for mortgages, said: “We recently re-launched our limited-edition HMO and MUB products and these have been well received by landlords. We know that there is still strong demand, despite the end of the Stamp Duty holiday, and the popularity of this range supports that.
“By extending our limited-edition range we are providing additional competitive rates, cashback and free valuations for landlords who are interested in diversifying their portfolios with SSCs.”
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Paragon recently released its latest research, showing the number of landlords reporting higher tenant demand is at a five year high.