Paragon Bank has launched four new limited-edition five-year fixed-rate BTL mortgages.
The new options offer loans up to £4m at maximum 75% LTV, with an ICR calculation rate of 5.5%.
They are available to portfolio landlords with four or more properties in England, Scotland and Wales, and are suitable for financing the purchase and remortgage of single self-contained properties, as well as HMOs and MUBs.
The first two products are designed for properties with an A-C EPC rating, and are priced at 4.9% with a 3% fee, and 5.25% with a flat fee of £2,495.
Meanwhile, the other two products are available for BTL properties rated D or E, and are offered at 4.95% with a 3% fee, and 5.3% with a flat fee of £2.495.
Moray Hulme, director for mortgage sales at Paragon Bank (pictured above) said: “The launch of these limited-edition products sees us replace four of our five-year fixes with mortgages that feature lower rates.
“This improves our range of fixed-rate products, so is good news for portfolio landlords who want some certainty when remortgaging one of their existing properties or purchasing homes in response to what is now sustained strong tenant demand.”
