Paragon of : New products for the New Year 09 January 2017

PARAGON MORTGAGES PRESS RELEASE 9 January 2017 PARAGON LAUNCHES NEW PRODUCTS FOR THE NEW YEAR

• Competitive new fixed rate mortgage products

• Two and five year terms available

• Up to 75% Loan to Value

Paragon Mortgages is ringing in the New Year with the introduction of a new range of fixed rate mortgage products available for buy-to-let property purchases and remortgages. The products, which include two and five year fixed rate mortgages, benefit from current low market rates and provide an ideal opportunity for landlords looking to refresh their finances in 2017.

The new five year fixed rate products will be of particular interest to landlords looking for payment stability over the long-term, offering 3.75% for landlords borrowing up to 75% Loan to Value (LTV). Importantly, these longer term fixed rate products also feature interest coverage ratios that start at 125% at 4% and are graduated to reflect each landlord's individual tax status.

Other highlights within the range include a two year fix at 3.25% for lending up to 65% LTV and another at 3.40% for lending up to 75% LTV.

John Heron, Managing Director, Paragon Mortgages said: "The first quarter is an extremely busy time in the buy-to-let market as landlords review their portfolios and plan for the year ahead.

"The tax changes being introduced in April make it even more important than ever for landlords to think ahead and minimise costs where possible.

"These products offer landlords the opportunity to put in place longer term mortgage finance, whilst taking advantage of the beneficial impact of today's record low market rates."

ENDS

For further information contact:

Kathryn Rhinds

PR Account Manager Tel: [phone]

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NOTES TO EDITORS

Paragon Mortgages is a leading provider of buy-to-let mortgages delivering lending solutions designed for professional landlords with more complex requirements. These include lending to limited companies as well as private individuals, lending on more complex property including HMO's and multi-unit blocks, higher aggregate lending limits and the ability to accommodate more complex letting arrangements including local authority leases and corporate leases along with standard ASTs.

Paragon Mortgages introduced its first product aimed at the professional property investor in 1995 and is a member of the Council of Mortgage Lenders (CML), the Intermediary Mortgage Lenders Association (IMLA), National Landlords Association (NLA) and the Association of Residential Letting Agents (ARLA).

Paragon Mortgages is part of The Paragon Group of Companies, a FTSE 250 company and a specialist provider of finance.

In February 2014 Paragon Group launched its banking subsidiary, Paragon Bank PLC. It is a retail-funded lending bank with a direct-to-consumer Internet platform for savings. Its loan products are distributed via intermediaries. The Bank is authorised and regulated by the Prudential Regulation Authority and the Financial Conduct Authority.