Paragon Bank unveils refurb-to-let finance for landlords

Landlords can apply for both refurb-to-let and buy-to-let mortgages simultaneously, streamlining the process and avoiding extra application fees.

These products are available for single self-contained properties, HMOs, and multi-unit blocks in England, Scotland, and Wales.

“We’re really excited to launch our new refurb-to-let proposition,” said Louisa Sedgwick (pictured), commercial director for mortgages at Paragon Bank. “Our refurb-to-let product is tailor-made for landlords looking to update their property, with a choice of rates and terms available, plus the ability to apply for a buy-to-let application at the same time.

“Upgrades could focus on improving the sustainability of properties or making general improvements that result in a nicer living environment for tenants.

“We also know that some landlords and brokers are sometimes reluctant to take out bridging finance, so this product is a great alternative. We’ll assess refurb-to-Let applications alongside buy-to-let applications so landlords will benefit from a faster turnaround and the expertise of the same underwriter working on both elements.”