Buy-to-let mortgage deal of the week revealed

This weeks buy-to-let mortgage deal has been revealed by the National Landlords Association as Paragons latest offering.

This weeks buy-to-let mortgage deal has been revealed by the National Landlords Association as Paragons latest offering.

According to the organisation, this product is "perfect" for those who are eager to expand their portfolios and generate funds for refurbishments.

Interested parties will find that the deal provides up to 75 per cent loan-to-value, with tracker and fixed rates available.

Whats more, lending can be sought on portfolios of up to £5 million, while competitive re-mortgaging is an option within six months for the same amount as the original loan, or if complete renovation works are required, although full receipts are necessary as evidence.

It is also available for houses in multiple occupation and limited companies.

Paragon itself recently returned to the market after it was forced to close at the beginning of 2008 as a result of higher costs, but the securing of fresh funds of £200 million has seen it restart its mortgage packages, Reuters reported.

Posted by Luella Ravelin

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