With confirmation that universities are open, Paragon Bank has resumed accepting applications on buy-to-let properties that are, or will be, let to students.
The specialist BTL mortgage lender is offering a range of two-year and five-year fixed rate options, available on HMOs and multi-unit blocks at 70 and 75 per cent LTVs.
- 70 per cent LTV two-year fix is set at 3.05 per cent
- 70 per cent LTV five-year fix is 3.44 per cent
- 75 per cent LTV two-year fix is 3.74 per cent with £350 cashback
- 75 per cent LTV five-year fix is 4.2 per cent with £350 cashback
Two-year mortgages incur a 1 per cent fee and the five-year deals have a 2 per cent fee. A free valuation is included with these products.
Paragon director of mortgage sales Moray Hulme says: “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 2020/21 academic year, which they have done even if lectures are being held remotely.”
