Paragon launches discounted SVR product

Paragon has introduced a new one-year buy-to-let discounted SVR product to support new and existing landlord customers through the coronavirus uncertainty.

The discounted SVR product, available for portfolio landlords (Single Self-Contained properties and Houses in Multiple Occupation) and non-portfolio customers (Single Self-Contained Properties only), is being offered for new business, product transfers and further advances and comes with a 1% discount off Paragon’s SVR for 12 months. 

For product transfer and further advance customers, the product, available from 3.95%, is offered up to 80% and 75% loan-to-value respectively, has no application, valuation or transfer fee and has no early redemption charge.

New applications also come with no product or valuation fee and have an early redemption charge of 1%.

Moray Hulme, Paragon director of mortgage sales, said: “This product is designed for landlords who want some certainty whilst they wait to see how the next few months materialise and may not want to lock into a longer-term fixed-rate in the current period.”

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