Paragon to target professional landlords with buy-to-let return

News Category: Industry News

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Paragon Mortgages has announced that it is to move back into the buy-to-let market and offer deals to professional landlords once more.

The firm stated that it will place long-term customer relationships at the heart of its landlord mortgages business, as well as promising to be "prudent" and "risk-averse".

Nigel Terrington, Paragon Group's chief executive, explained that the company had remained "steadfast" in its commitment to new lending and said competition in the buy-to-let lending sector had been lacking over the last few years.

He added: "Nowhere is this more evident than in the private rented sector where tenant demand is strong and expected to grow. Competition is vital for a healthy and vibrant buy-to-let market."

Mr Terrington also said Paragon will be aiming to target professional landlords with "complex" circumstances, as he believes there are not enough products on the market for them.

Commenting on Paragon's move back into the buy-to-let market, the National Landlords Association said it was excellent news for landlords.

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