How Landlords Can Simplify Financing with Paragon Bank’s Multi-Property Mortgage Application
Paragon Bank has launched a buy-to-let mortgage application allowing landlords to apply for four or more properties—including single lets, HMOs, and multi-unit blocks—via a single streamlined process. This reduces fees, legal costs, and administrative complexity, making mortgage management easier for landlords with mixed portfolios. Here’s what you need to know to leverage this innovative product.
A New Era for Multi-Property Mortgage Applications
Paragon Bank’s new multi-property buy-to-let mortgage application is transforming how landlords with four or more properties manage their financing. Instead of submitting separate applications (each with fees and legal paperwork), landlords can now consolidate up to 99 properties—including single lets, Houses in Multiple Occupation (HMOs), and multi-unit blocks—into one streamlined mortgage application. The flexibility to stagger closing dates per property adds operational convenience.
Why This Matters to Landlords
- Cost Savings: No application fees per property and a single legal advice certificate reduce upfront costs significantly.
- Administrative Efficiency: One application simplifies paperwork and speeds up decision-making.
- Portfolio Flexibility: Mix different property types and schedule completions to fit your cash flow and operational needs.
Who Benefits Most?
- Investors with four or more buy-to-let properties, especially mixed portfolios combining single lets, HMOs, and blocks.
- Accidental landlords or those expanding their portfolios seeking streamlined refinancing or acquisitions.
- Small to medium portfolio owners wanting to reduce complexity and costs.
Single-property landlords or those with fewer than four properties may not directly benefit but could consider this option if planning to grow.
Practical Steps to Take Now
- Assess Your Portfolio: Confirm if you have four or more properties suitable for a consolidated application.
- Consult Your Mortgage Broker: Discuss Paragon’s multi-property application and explore potential savings and benefits.
- Prepare Documentation: Gather tenancy agreements, valuations, and financials for all properties in your portfolio.
- Plan Staggered Closures: Schedule property completions to align with your operational and cash flow requirements.
- Stay Updated: Monitor Paragon’s platform for updates or enhancements.
Anticipate Impact on Your Business
By switching to a single consolidated mortgage application, you can reduce fees and administrative burdens, freeing up time to focus on growing your portfolio and managing tenants effectively. It also offers a more strategic view of your financing under a single mortgage umbrella.
How Rentals & Sales Can Support You
Our landlord intelligence hub offers tailored portfolio reviews, compliance audits, and pricing strategies to help you evaluate whether Paragon’s multi-property mortgage application suits your investment goals. We also facilitate collaboration with mortgage brokers to ease your transition.
Compliance disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult qualified mortgage advisors and legal professionals before making any mortgage decisions.
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