Paragon Bank, the specialist lender, is once again accepting applications on buy-to-let properties that are, or will be, let to students.
A range of two-year and five-year fixed rate options are now available on HMOs and multi-unit blocks.
The 70% LTV range has a two-year fixed rate starting at 3.05% and five-year rates from 3.44%.
Paragon is also offering 75% LTV loans, on a two-year fixed rate at 3.35%, and two five-year fixed-rate products at 3.74% and 4.2% respectively, both with £350 cashback.
Two-year mortgages will incur a 1% fee whilst 2% is charged on five-year deals.
These products include a free valuation.
Moray Hulme, director of mortgage sales at Paragon, said: “We are pleased to have re-entered the student market, offering intermediaries some strong products that we feel are well suited to meet the robust demand we are currently experiencing.
“We wanted clarity on whether students would return for the 2020-2021 academic year, which they have done, even if lectures are being held remotely.”
Original article featured here…
source https://commercial-mortgages-broker.co.uk/news/paragon-bank-resumes-btl-products-for-student-let-hmos/
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