Paragon mortgage lauded by NLA

Date:Friday 8th October 2010
Author: Susanna Kavka

A buy-to-let Paragon mortgage has been hailed by the National Landlords Association (NLA) as its deal of the week.

The industry body explained the arrangement is available at up to 75 per cent loan to value, with both fixed and tracker rates of interest on offer.

A representative from the organisation claimed the deal is "perfect for landlords keen to raise capital for refurbishments and portfolio expansion".

Landlords can secure lending for portfolios of up to £5 million and utilise a remortgaging facility within six months of the start of the original agreement, which could be useful for people carrying out refurbishments.

Last month, a Paragon mortgage representative described how the company is aiming to shake up competition in the buy-to-let sector.

Chief executive of the company Nigel Terrington pointed out that the UK has experienced a difficult lending environment and the firm is now ready to expand on the property finance choices available to landlords.