Editor's note: This brief was summarised by The Property AI Team from a report by Mortgage Strategy. Read the original article for full details.
Paragon Bank Offers £1,000 Cashback on Selected BTL Mortgages
Paragon Bank has introduced a £1,000 cashback incentive across 21 products within its buy-to-let (BTL) mortgage range. The cashback is available on a selection of five-year fixed rate products for single self-contained properties, houses in multiple occupation (HMOs), and multi unit blocks.
The offer includes both percentage fee and fee-free options, and also features free valuation. The £1,000 cashback is paid upon completion of the mortgage. These products are available for both purchase and remortgage, with different pricing options across various loan-to-value (LTV) bands.
This development may be of interest to UK letting agents and inventory clerks working with landlords considering new BTL mortgage options, as the cashback could help offset transaction-related costs.
Source: Mortgage Strategy