SimplyBiz Mortgages has added Paragon’s buy-to-let range to its mortgage panel.
The buy-to-let range includes support for SPV limited company lending, including subsidiaries, HMO properties with up to 20 rooms, multi-unit freehold blocks, remortgages within six months and lending for expats, with holiday lets, refurbishment products and forward funding facilities coming soon.
Martin Reynolds, CEO of SimplyBiz Mortgages, said: “Feedback from our membership on Paragon’s secured lending products has been really positive, and I’m delighted to announce this expansion of their product range on the SimplyBiz Mortgages panel.
“Paragon shares our commitment to innovation and focussing on changing client needs, and I’m sure this strengthening of our relationship will be highly beneficial for our members as we move forward.”
Buy-to-let is an increasingly important market, according to Reynolds.
In a survey of FIBA (The Financial Intermediary & Broker Association) and SimplyBiz Mortgages members undertaken last month, 30% of those who responded were new to buy-to-let but aimed to expand their services.
The same survey also revealed that sentiment around the buy-to-let-market was very strong, with 83% stating that they felt the number of buy-to-let products sold would remain stable or increase in the near future.
Reynolds added: “Now more than ever, it’s vital that advisers and brokers have access to a wide range of high-quality products, and I am committed to further enhancing and growing the panel wherever I feel we can add value to our membership.”
Moray Hulme, director of mortgage sales at Paragon, commented: “Paragon is delighted to add SimplyBiz Mortgages to our distribution.
“We know The SimplyBiz Group prides itself on offering intermediaries market-leading products and, as one of the UK’s top buy-to-let lenders, I’m confident that we strengthen this offer. We’re looking forward to working with its members to provide customers with fantastic products and excellent service.”