Mortgage Trust launch for the New Year, 9 market leading and limited edition products. These are inclusive of fixed and tracker rates for both purchases and re-mortgages; making available a 2.99% tracker with 75% loan-to-value on a buy-to-let property.
A free valuation will be granted on all limited edition products with a £300 contribution towards legal fees on re-mortgage products. There is also a range of flat and percentages fees.
Should this be something you are interested in, please don’t hesitate to contact Rich Firth, Luci Girling or Chris Meekin on 01482 638300 or email firstname.lastname@example.org.
In festive spirits, one of the main buy-to-let and commercial lenders in the market, Paragon, have delightfully announced any application received between 10th December to the 31st December 2012 will benefit from a free valuation, including multiple property applications. Giving landlords the opportunity to re-finance or purchase a property and save on the costs.
Should this be something you are interested in, please don’t hesitate to contact Chris Meekin, Rich Firth, or Luci Girling on 01482 638300 or email email@example.com.
According to the Moneyfacts magazine September issue, through research made by Paragon Mortgages Yorkshire and Humberside in the second quarter of 2012, reached the top of the rental yield table. Averaging at 6.8%, closely followed by Wales at 6.7% with third place being taken by the south west at just 6.2%.
Although lower down the table, other eastern region landlords saw a slight drop with the North East coming in at 6.1%, alongside the East of England reaching only 5.7%.
Professional landlords owning twenty properties or more achieved higher with an average yield of 7% in comparison to 6.2% accomplished by all landlords in the second quarter.
Managing Director of Paragon Mortgages, John Heron concluded with positive news, that an average yield of 5% to 7% is healthy and an indication that portfolios are performing successfully.
No Lender application fee – no valuation fee
Paragon Mortgages and Mortgage Trust have introduced an incentive scheme for NEW applications from 21st May until 29th June 2012 only AND TIME IS RUNNING OUT.
The offer is available on an Exclusive basis through a small number of intermediaries nationally.
During this incentive period newly introduced case will not attract the lenders application fee of £150 or the appropriate valuation fee. This means a saving of £490.00 on an application for a loan on a property valued at over £150,000.
For the Professional Landlord:
- Tracker Rates From 4.70%
- Fixed Rates From 5.30%
- Interest Rate Cover reduced to a minimum of 125% of interest only payment of 5% (or pay rate if higher) on standard properties, 125% of 7% for HMO & Multi-Unit Block.
- Lending to limited companies, on HMO Properties, and variety of tenant types.
For the Smaller-Scale Landlord:
- Tracker rates from 4.50%
- Fixed rates from 5.24%
- Applications from individuals or partnerships only and on single self contained properties.
- Flexible approach to income requirements.
- Interest Rate Cover reduced to a minimum of 125% of interest only payment of 5% (or pay rate if higher).
Lending can be considered to buy or remortgage properties less than 6 months old – including from associated development companies when done at arm’s length. This can provide developers who wish to keep properties to let with an alternative exit route, especially where it can be shown that they have property letting experience.
For further details please contact Chris Meekin, Rich Firth, or Wendy Hewitt on 01482 638300 or email: firstname.lastname@example.org or email@example.com.
Research from buy-to-let mortgage specialist Paragon has revealed a surge in the proportion of landlords planning to purchase family-focused housing.
Paragon, one of the largest providers of specialist Buy to Let in the market place serving professional landlords, has found that a significant proportion of landlords are letting to families and this looks set to increase during the coming months.
Of those landlords planning to purchase during the quarter, 41% (up from 28% in Q2) are looking to invest in semi-detached houses and 22% (up from 9% in Q2) are looking to buy a detached property. (Private Rented Sector Trends Q2 Report – 202 Landlords surveyed)
Nigel Terrington, Paragon Group Chief Executive, said: “It is interesting to see more families relying on the Private Rented Sector, and this is certainly a trend which I expect to stay.
“Young couples and single person households will continue to account for a large proportion of the Private Rented Sector, but I think over the next few years we will see more families making use of the flexibility and affordable accommodation that the PRS provides.
“With a rising UK population, which is set to grow from 62.3 million today to 65 million in 2016, landlords need to react quickly to a changing tenant demographic as otherwise demand will most certainly exceed supply quite considerably.”
For further information on Paragon Mortgages or The Mortgage Trust please contact Rich, Chris or Ella on 01482 638300.
Mortgage Trust has today launched eighteen highly competitive, buy to let fixed and tracker rate products. The rates start at 3.69% tracker and 4.29% fixed with a choice of product fees ranging from 2.5%, 1.0% or a flat fee of £1,495. The products have a range of loan to values 65%, 70% and 75% and are available for purchase and remortgage applications.
For further information please contact Rich, Chris or Luci on 01482 638300.
Paragon are considered a move to acquire Northern Rock, or some of its mortgage portfolio, according to reports in The Telegraph today.
The report comments that sources close to the company say Paragon wants to analyse what Northern Rock controls, and there is a possibility it could launch a bid for the whole company or try to acquire loans. Nigel Terrington, chief executive, is known to have indicated to the City he is keen to acquire portfolios of loans as Paragon seeks to grow.
Although Paragon resumed new lending last year, after shutting its doors to new customers for almost three years after the debt markets froze, they have taken only cautious steps back into the market.
In May, the company posted a 35pc increase in pre-tax profits – helped by the booming UK rental market as would-be first-time buyers are forced to rent for longer.
It was forced to raise £287m through an emergency rights issue in January 2008 after Britain’s buy-to-let boom dramatically ended.
However, Paragon was able to avoid the bail-out woes of other lenders because it funded itself with long-term loans that matched the length of its mortgages. The company also remained profitable during the crisis, as customers continued to pay monthly instalments and the group built a mortgage-servicing business.
The sale of Northern Rock was announced by the Chancellor George Osborne in his Mansion House speech last month.
A spokesman for Paragon said the company “cannot comment on speculation”.
Paragon have launched a range of products today which are aimed at landlords looking to expand their portfolios.
Paragon Mortgages have today launched a range of leading fixed and tracker rate products, aimed at landlords looking to expand their portfolios.
Rates start at 3.3% for a 2 year tracker and 4.25% for a 2 year fixed rate. A limited tranche of funds is available for these products, therefore all applications must be received by 31 March 2011 and complete by 31 May 2011.
Please speak to Rich, Chris or Luci on 01482 638300