Paragon offers landlords and property investors a selection of fixed rate and tracker buy to let mortgages.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Paragon Mortgages is part of the Paragon Group of Companies and was formed in 1995. It was originally called Homeloans Direct. Today Paragon Mortgages is a specialist provider of buy to let mortgages for professional landlords and property investors. They also provide related services, including landlords insurance, which is designed for landlords.
Fixed rate Paragon mortgages are available in two and five year fixed rate deals. An early redemption penalty will apply if the mortgage is paid off in full before the end of the discounted period. After the fixed rate period has expired, an interest only mortgage can be converted to a combination of interest only and capital repayment, subject to 28 days notice in writing.
Landlords can choose from a selection of tracker Paragon mortgages. Lifetime tracker deals are available and there are also two and five year tracker deals.
Paragon Mortgages limited refurbishment products are suitable for landlords wishing to buy and refurbish a property. A minimum works valuation of £75k applies. The refurbishment scheme is only available for single unit properties; it is not suitable for HMOs or part-commercial properties.
Paragon customers can apply for a further advance on their mortgage or amend the details of a product. To do this, landlords must contact Paragon via telephone or email.
The maximum amount a landlord can borrow from Paragon Mortgages is £5 million; the minimum amount is £30k. Applicants must have a gross annual income of at least £25k per annum. Buy to let mortgages are available for terms of 5 to 25 years.
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