Paragon has removed the differentiation between portfolio and non-portfolio landlords to make it simpler for mortgage advisers to find products for their clients.
A portfolio landlord has four or more mortgaged BTL properties.
With portfolio and non-portfolio mortgage products consolidated, Paragon will tell brokers which mortgage is suitable for their landlord client right at the start of the process.
Streamlined product range
As a result of the changes, the lender has also been able to reduce its product guides from nine to three, with options for BTL, switch or further advance mortgages.
Louisa Sedgwick, commercial director at Paragon Bank, explained: “The simplification of our buy-to-let product range was driven by conversations with brokers, as well as our culture of challenging how and why we do things, streamlining processes and making it easier to do business with us.”
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