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Buy to let loans doubled to reflect price and lifestyle changes

Paragon Bank is doubling both the maximum loan amount it lends on an individual property and the total buy to let borrowing limit with the company.

The total amount portfolio landlord customers can borrow with Paragon across their portfolio has increased from £5m to £10m, whilst the maximum loan on an individual property has risen from £2m to £4m.

In addition, the maximum loan amount has increased across several loan-to-value bands for both portfolio and non-portfolio landlords. 


These include 80 per cent LTV moving from £500,000 to £750,000; 75 per cent LTV moving from £750,000 to £1m; 70 per cent LTV from £1m to £1.5m; 65 per cent LTV from £2m to £4m.

Paragon has made the changes to further support landlords as they grow portfolios, whilst also rebalancing them towards larger properties to reflect changing tenant demand. 

The move also reflects on the growth in property values over the past year.

Paragon defines a portfolio landlord as an individual with four or more mortgaged buy-to-let properties. 


Paragon’s mortgage director Richard Rowntree says: “We want to ensure we can support our landlord customers as they grow their business and thrive. 

“A key element of this is creating the financial headroom to facilitate that growth and giving landlords the confidence that they can add new properties to their portfolios.

“In addition, we want to support landlords as they pivot their portfolios to adjust for societal changes, such as increased levels of working from home and the desire for more space. 

“That translates into greater demand for larger homes, which is one of the reasons why we have increased our maximum loan amount on an individual property. We’re confident these changes will be welcomed by landlords and mortgage intermediaries.” 

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    Not a good time to be increasing debt, sensible landlords will be reducing debt.


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