Buy To Let Products from Paragon Mortgages

Before the banking crisis, Paragon Mortgages use to be one of the biggest lenders offering buy to let loans in the UK. However, this provider ceased to offer new loans in 2008 because of insufficient funding, and started to focus on managing its existing loan book.

Finally, some days ago Paragon let it be known to the general public that it was going to offer buy to let loans again which was made possible due to £200 million of funding secured from the Australian bank Macquarie Bank.

Paragon believes it will get an extra £200 million with the help of specialised loan brokers, which will let it offer loans continuously.

In July 2007, about 3,600 various buy to let loan deals were available, but this has now decreaseds to just 280. What is more, most of these loan products are only targeted at small scale landlords with one or two properties.

Paragon has plans to go back  to providing large-scale landlords who have extensive portfolios of properties with buy to let loan deals and services.

In addition, Paragon has promised to offer loans to limited companies, as well as loans for houses in multiple occupation and student accommodation.
 


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