Paragon Introduces £750 Cashback on 5-Year BTL Deals

Low Mortgage Rates Drive Buy-to-Let Investment

Paragon Bank has announced a new cashback offer of £750 for landlords who take out a 5-year buy-to-let (BTL) mortgage deal. The offer is available on all new BTL mortgages with rates starting from 2.99%.

Key Features of the Paragon Cashback Offer

* £750 cashback on 5-year BTL mortgages * Rates starting from 2.99% * Available to both new and existing Paragon customers * Maximum loan-to-value (LTV) of 75% * No application fee

What Does This Mean for Landlords?

The Paragon cashback offer provides landlords with an opportunity to reduce the upfront costs of taking out a BTL mortgage. The £750 cashback can be used to cover legal fees, valuation fees, or other expenses associated with the purchase of a BTL property. In addition to the cashback offer, Paragon is also offering competitive mortgage rates. Rates start from 2.99%, which is below the current average BTL mortgage rate of 3.2%. This makes Paragon's BTL mortgages a competitive option for landlords looking to secure a low-cost loan.

Why Invest in Buy-to-Let?

BTL investment can be a lucrative way to generate income and build wealth. The UK rental market is strong, with demand for rental properties outstripping supply. This means that landlords can typically charge high rents, which can generate a healthy rental yield. In addition, BTL investment can provide tax benefits. Landlords can offset their mortgage interest payments against their rental income, which can reduce their tax liability.

Conclusion

Paragon's £750 cashback offer on 5-year BTL deals is a great opportunity for landlords to reduce the upfront costs of investing in BTL property. The competitive mortgage rates and cashback offer make Paragon a great choice for landlords looking to secure a low-cost loan.