Specialist buy-to-let lender, Paragon Bank, has announced that it has re-entered the student market launching a range of two-year and five-year fixed rate options, available on HMOs and multi-unit blocks.
According to the lender, at 70% LTV, two-year fixed rates start at 3.05% and five-year rates from 3.44% and on 75% LTV products, two-year rates are available at 3.35% and five-year rates start from 3.74%, both with £350 cashback.
Two-year mortgages come with a 1% fee and five-year deals incur a 2% fee. All products include a free valuation.
Moray Hulme, director of mortgage sales at Paragon, said: “We are pleased to have re-entered the student market, offering intermediaries some strong products that we feel are well suited to meet the robust demand we are currently experiencing.
“We wanted clarity on whether students would return for the 2020/21 academic year, which they have done even if lectures are being held remotely.”