Paragon Bank has launched a range of new BTL mortgages, including five-year fixed-rate deals with zero or flat fees, green options and discounted standard variable rates.
Nil fee five-year fixed rates are available for those purchasing or re-mortgaging SSC properties, with rates starting at 6.35%, or HMOs at 6.60%.
The bank has also introduced a five-year fixed rate with a flat fee of £2,995, with rates starting at 6.05% for SSCs, or 6.30% for HMOs.
The five-year fixed-rate deals are available at 65% LTV on loans up to £500,000.
There are three one-year discounted SVR rates available in this new range, starting at 5.50% for SSCs and 5.75% for HMOs with a 1.50% fee.
All products include free valuations, no application fees and are available to portfolio landlords —those with four or more BTL mortgaged properties — in England, Scotland and Wales.
Louisa Sedgwick, commercial director at Paragon Bank (pictured above), said: “We’re delighted to launch a range of products that we feel provide something a little different to those offered by many of our competitors.
“We’ve listened to brokers who have told us that nil and fixed-fee options should appeal to landlords wanting higher loan amounts, up to £500,000, alongside the certainty of fixing rates for five years.
“Having the ability to secure a new discounted variable rate and then switch to a Paragon fix at any time during a term, offers a mix of flexibility and certainty […] given the fluidity of the current market.”
