Mortgage Trust launch buy-to-let product range for Scotland
02 March 2015
Mortgage Trust, by specialist buy-to-let lender Paragon, has made a range of products available for Scottish investors for the first time since the financial crisis.
Available exclusively to intermediaries, the new Mortgage Trust product range includes 14 highly competitive fixed rate products, with a variety of terms and Loan to Value options (LTVs).
The new product range includes a two year fix at 2.99%, with a £495 product fee and up to 65% LTV, and a three year fix at 3.85% with no product fee and up to 75% LTV. There is also a two year fix at 4.45%, with no product fee and up to 80% LTV.
For those landlords looking to fix for a longer period, there is also a five year fix at an initial rate of 3.95%, with a £1,995 product fee and available up to 75% LTV.
John Heron, Managing Director of Mortgages, said: “Paragon has a long association with mortgage lending in Scotland and we have had this launch on our agenda for some time now. The diversification of funding that the Group has achieved as a result of the launch of
Paragon Bank, has facilitated this development and illustrates well the benefits that this strategy of diversification can bring.”
“This new competitive product range has been tailored specifically for landlords with properties in Scotland and is available only through intermediaries who are registered with Paragon and Mortgage Trust,” he added.
Heron said that the firm will be looking to further expand the range in the coming months.