TMA Club has made the decision to add Paragon Bank to its lender panel, which will enable members to access the provider’s range of buy to let investment products which cater for both portfolio and non-portfolio investors.
Paragon’s range aimed at non-portfolio landlords aims to cater to the needs of investors who own three or fewer self contained properties. Paragon also offers a ‘portfolio’ range. This set of products is curated by the lender to provide for landlords who possess large and complex property portfolios. Mortgage applications for these portfolios are likely to require expert underwriting and more support. Portfolio landlords are defined as those with four or more mortgaged properties, although the range also caters for those operating as limited companies and limited liability partnerships. The lender also includes more complex propositions, ranging from multi-unit blocks to HMOs.
Senior product and business manager at TMA, Rob McCoy, said: ‘TMA’s lender panel shows no sign of slowing down in 2018, with yet another fantastic addition. Paragon is a well-respected brand within the buy to let market we are delighted to be able to make them our latest addition to our panel. This re-affirms our commitment to continuously expanding the products available to our Directly Authorised advisers. We expect the addition to be very popular with our members and look forward to working with them.’
Managing director of mortgages at Paragon, John Heron also commented on the new cooperation between the companies. He said: ‘Following a range of tax and policy changes, landlords must navigate an increasingly complex mortgage landscape. As one of the UK’s most experienced, independent buy to let lenders. Paragon caters for all types of landlords with portfolios both big and small. We look forward to working closely with TMA to further expand the choice, flexibility and support available for members and their customers.’