Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
Buy to Let Lenders Announce Expanded Options for Landlords
Paragon Bank, ModaMortgages, and Darlington Building Society have introduced changes to their buy to let mortgage ranges. The updates include new tracker mortgage products, adjustments to upfront fees, and revised application requirements.
Paragon Bank has expanded its Bank Base Rate (BBR) tracker range. The lender has introduced switch and further advance products for existing customers. According to the report, the switch range is available at up to 80% loan-to-value.
ModaMortgages and Darlington Building Society have also made changes to their buy to let offerings. The updates cover tracker mortgages, upfront fees, and application requirements, although specific details were not provided in the source excerpt.
These changes may be relevant to UK letting agents and inventory clerks who work with landlords seeking new or revised mortgage products. The expanded options could impact the types of properties available for let and the financial arrangements landlords can access.
Source: Property118