Paragon Bank has introduced four new five-year fixed-rate BTL mortgages, and repriced its standard variable rate (SVR).
The new fixed products are available for portfolio landlords with four or more mortgaged properties at up to 75% LTV, and feature lower rates and fees, as well as £350 cashback.
For properties with an A-C EPC rating, the options are priced at 5.20% with a 3% fee, or 5.40% with a 2% fee.
Meanwhile, the products for properties rated D or E are offered at 5.25% with a 3% fee or 5.45% with a 2% fee.
Selected products include free mortgage valuations and are available for HMOs, MUBs and single self-contained properties.
Paragon has also increased its SVR from 7.85% to 8.35% to reflect the recent rise in the base rate of interest by the Bank of England.
Moray Hulme, director for mortgage sales at Paragon (pictured above), said: “We’re starting the new year by replacing four of our five-year fixes with mortgages that have lower headline rates, as well as reduced fees.
“Available at up to 75% LTV, these are competitive options for portfolio landlords who are either purchasing in response to strong tenant demand or remortgaging and looking for some certainty.”
