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Paragon offers buy-to-let at variable rate

Paragon Mortgages is giving its Buy-to-Let investors the opportunity to arrange their borrowing at the Standard Variable Lettings Rate.


This is set a few basis points above the variable rate for mortgages arranged for primary residences.


Borrowers can switch out of the variable rate in the first three years and into any Paragon fixed-rate products available at that time.


The current Standard Variable Lettings Rate is 7.2%, with effect from 1 April 1999. Loans can be arranged up to 80% Loan to Value.


John Heron, Managing Director of Paragon Mortgages, says: &#34Our customers are just as likely to get it right for themselves as any panel of economists.


&#34I would back them every time to make the best judgement on the moment to fix their borrowing rate to suit themselves.&#34

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