Paragon launches fixed-rate deals for landlords

Tuesday, 26 April 2011 12:48

Professional landlords are the focus of a new range of products released by Paragon Mortgages.

The two-year, fixed-rate deals are available from 5.3 per cent for those with a 35 per cent deposit, while 5.4 per cent and 5.5 per cent options are on offer for customers seeking higher loan-to-value levels.

Managing director at Paragon John Heron explained the firm is intent on helping landlords as they are the "cornerstone" of the UK's renting sector.

"The number of households living in privately rented accommodation is forecast to grow to one in five by 2015 and it will be professional landlords who will be powering this growth," he added.

Various facilities are on offer for those taking out the mortgages, including options for multi-unit blocks and houses in multiple occupation, with Paragon suggesting its lending criteria allows it to provide options not typically found elsewhere.

Each deal comes with a two per cent fee and reverts to the standard variable rate plus 0.5 per cent after two years.

Use the Myfinances.co.uk comparison tools to find the best deal on a mortgage
 

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