Mortgages for Business selected for Paragon's intermediary panel 28.09.2010

Mortgages for Business has been chosen to become part of a select panel of Buy to Let brokers by Paragon Mortgages who, today, announced a return to lending after an absence of more than 18 months.

“We are absolutely delighted,” said MD of Mortgages for Business, David Whittaker. “Over the past couple of years we have worked closely with Paragon assisting in the redesign of loan stance and credit criteria to help ensure a selection of competitive products that suit the funding requirements of professional property investors”.

The dramatic withdrawal of lenders and products during the credit crunch severely limited the funding options for many portfolio property investors. The majority of lenders that remained in the market preferred to stick with ‘vanilla’ buy to let products for novice and small-scale landlords.

Mr Whittaker said: “We are particularly pleased to see the focus on facilities for more complex buy to let scenarios including Houses in Multiple Occupation, multi-unit blocks and mortgages for Limited Companies.”

Products available from Paragon Mortgages include trackers up to 75% LTV, two-year fixed rates at 5.3% up to 65% LTV and 5.5% at 65% LTV.

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