Paragon has added to its buy-to-let mortgage range to include mortgages for expat landlords with rental property in the UK and for UK holiday lets
The specialist lender’s mortgages for expat landlords are available up to 70% LTV for loans up to a maximum of £750,000 and at LTVs up to 65% for loans up to a maximum of £1m.
Mortgages for holiday lets are available up to 70% LTV up to a maximum of £500,000.
These new products are available through mortgage intermediaries for individual and limited company landlords with single, self-contained units.
Paragon’s expat mortgages can be used by landlords based in over 30 countries to finance property in the UK.
Expat landlords must hold a current UK passport, have held a UK bank account for at least three years and use a managing agent.
The lender’s holiday-let mortgages can be assessed on assured shorthold tenancy (AST) rental income or proven historic holiday-let income.
“We are really pleased with these product changes and hope that they will be received well by our intermediary partners,” said John Heron, managing director of mortgages at Paragon (pictured above).
“We have looked very carefully at the customer journey for expat buy-to-let landlords and have identified a number of areas where we think it can be simplified and improved.
“Similarly, with our holiday-let criteria we are recognising how landlord strategies can change in the face of a more fluid rental market.”
