Paragon Bank has launched a multi-property buy-to-let (BTL) mortgage proposal that will allow landlords to apply for four or more properties in a single application.
Landlords can choose from any of Paragon’s product range for both purchase and remortgage and can select any property type in the application, including self-contained units, HMOs and multi-unit blocks (MUBs).
Homes included in the single application may be completed at separate times, allowing up to 99 homes to be included as part of the multi-home application.
There are no application fees, including for HMOs and MUBs, and only one legal advice certificate is required, rather than one per property.
A single underwriter will manage the entire application to completion, to whom the brokers will have direct access during the process.
Russell Anderson, mortgage commercial director at Paragon Bank, said: “Buy-to-let is in our DNA and we have been supporting landlords in building portfolios for decades.”
“The launch of our multi-property proposition sets us apart from the competition because it gives landlords a fast and cost-efficient way to add a number of properties at once, but also the flexibility to manage those transactions individually.”
“Landlords can combine our product range with a number of property types. For example, they may want to select a fixed rate product for larger loans, or a no-fee option for smaller mortgages; flexibility is key.”