Paragon Bank has increased the amount portfolio lenders may borrow across their portfolios and per property.
The lender has also upped the amount both portfolio and non-portfolio landlords may borrow at specific LTV categories.
The total amount portfolio landlords may borrow throughout their entire portfolio has doubled from £5m to £10, while for each property it has increased from £2m to £4m.
Changes at each LTV category are as follows:
Paragon managing director of mortgages Richard Rowntree says: “We want to ensure we can support our landlord customers as they grow their business and thrive.”
“A key element of this is creating the financial headroom to facilitate that growth and giving landlords the confidence that they can add new properties to their portfolios.”
“In addition, we want to support landlords as they pivot their portfolios to adjust for societal changes, such as increased levels of working from home and the desire for more space.”
“That translates into greater demand for larger homes, which is one of the reasons why we have increased our maximum loan amount on an individual property. We’re confident these changes will be welcomed by landlords and mortgage intermediaries.”
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie | Duration | Description |
---|---|---|
cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.