Paragon Bank has strengthened its new build property proposition, supporting landlords to invest in new, energy efficient homes.
Landlords purchasing new build properties can now benefit from the certainty of buy-to-let mortgage offers that are valid for six months, up from three previously.
Landlords can request that the selected product is retained for a further three months beyond the original six month offer of loan validity.
Beyond six months, a physical re-inspection and re-assessment of the application will be required.
This also means that houses being purchased off-plan or part built, that are developed by a National House Builder, will not require a further physical internal property reinspection, delivering time and cost savings for borrowers.
James Harrison, Buy To Let product manager at Paragon Bank, says: “These proposition improvements are supporting landlords to invest in new build homes, helping to bring good quality into the private rented sector.
“New build homes often benefit from EPC ratings of C or above so we’re anticipating demand for these properties to increase following the recent announcement of minimum energy efficiency standards reforms within the PRS.”
This article is taken from Landlord Today