Paragon returns to new lending

The Paragon Group of Companies is returning to the new lending market to offer competitive mortgage rates to professional landlords in the buy-to-let market.

Council of Mortgage Lenders CML figures show that buy-to-let lending hit its lowest point since 2001 by both value and volume last year, which has filtered into the housing market as less rented accommodation is now available.

A two year fixed-rate mortgage is available at 5.30 per cent for a maximum 65 per cent loan to value LTV along with a 5.50 per cent rate for a maximum 75 per cent LTV.

Nigel Terrington, Paragon Group's chief executive, said: "Competition in the mortgage market has been sorely lacking over the last couple of years. Nowhere is this more evident than in the private rented sector where tenant demand is strong and expected to grow."

He added that competition was vital for a vibrant buy-to-let mortgage market and Paragon aims to provide that competition.

The company also has a range of two and five-year tracker products available offering very competitive mortgage rates.
 

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2010-09-28 12:46:02 © Moneyextra.com