Specialist mortgage provider Paragon has introduced a selection of new buy-to-let mortgages for established and small-scale landlords.
New Mortgage Range for Smaller-Scale Landlords
Within the Paragon brand, 18 new products by re-pricing six fixed rate deals and launching 12 trackers, aimed at professional landlords.
Its partner company, Mortgage Trust will offer landlords with smaller portfolios four fixed rate deals and two new trackers.
John Heron, Managing Director at Paragon says: “We expect that the new products will be well received by the intermediary market as we know they are seeing increasing demand from buy-to-let customers.1
“The new products offer a much wider range of product options to landlords.
“The new Mortgage Trust products complement the existing range and are augmented by a state-of-the-art online service.
“The new Paragon Mortgages products are more suited to professional landlords who tend to need a more tailored approach for more complex rental properties.”2
In the three months to October, the average rental yield for landlords increased to 6.7%, from 6.2% in the previous quarter.
Paragon revealed that investors in the East of England generate the highest average returns, at 7.5%. Wales follows with 7.3%, the North East sees 7.2%, and yields are 7.1% in central London.