Paragon Bank has announced that it is reducing rates across its portfolio range, as well as launching two new extra-large loan products that come with a lower rate and flat product fee.

Landlords spend an estimated £839 million each year upgrading newly purchased rental property before letting it out to tenants, helping to drive-up standards in the sector.

During the first quarter of 2021 average rental yields have increased to 6.0%, the highest recorded in three years.

Paragon Bank is expanding its energy efficient focused range after announcing the launch of two further advance products for properties with EPC ratings of A, B or C.

For the first time in four years, the proportion of landlords who say they plan to expand their portfolios is higher than that who intend to reduce.

A survey of mortgage brokers has revealed that the proportion expecting to do more buy-to-let business over the next 12 months is at the highest level since 2014.

Paragon Bank has refreshed its range of buy-to-let mortgage products for portfolio and non-portfolio landlords. 

Richard Rowntree, Managing Director of Mortgages at Paragon Bank, comments on the Household Finance Review.

Richard Rowntree, Managing Director for Mortgages at Paragon Bank, reacts to the 2021 budget announcement and discusses the potential impact on the private rented sector

Paragon Bank has announced that it is adding two new five-year fixed rate mortgages to its portfolio product range.