It was interesting to hear that Paragon, which was one of the largest buy to let lenders during the housing boom, is returning to the market for the first time in 18 months.
Paragon has arranged a £200m facility provided by Macquarie Bank which gives Paragon the money it needs to write new loans up front. Paragon is being more cautious than it was in the past and is aiming for investors with a minimum deposit of 25%.
I think this is very good news as buy to let is such an important part of the Scottish housing market, and Dundee in particular, and competition is always welcome.
Should you require further information on the products offered then please do not hesitate to contact me or Blackadders Mortgages.
- Paragon reopens its doors as rental market booms (independent.co.uk)