Paragon Bank is bolstering its buy-to-let product offering, launching a new range of 70% Loan-to-Value (LTV) two and five-year fixed rate deals.
The specialist buy-to-let mortgage lender has launched eight new 70% LTV products for both portfolio and non-portfolio landlords across single self-contained (SSC) properties and Houses in Multiple Occupation.
The 70% LTV range starts from 2.95% for a two-year fixed rate for SSC properties, and all products are offered with no valuation fee. The products are available for purchase and remortgage and complement Paragon’s existing 75% LTV product offering.
Moray Hulme, Paragon Director of Mortgage Sales, said:
“These new products offer landlords more choice at a time when product availability more broadly has been constrained and will suit landlords with greater levels of equity to invest. Demand remains robust for both new purchase and remortgage activity, despite the current difficult conditions.”
Paragon has been adding to its product range over the past few weeks. At the beginning of May it launched a market-first Discounted SVR product to support landlords through a period of uncertainty.