Paragon Bank has added competitively priced five-year fixed-rate products to its range of BTL mortgages, with rates starting at 5.75%.
The limited-edition products — which include lower rates for properties with EPC ratings of A–C — are available at up to 75% LTV.
For landlords borrowing up to £4m for the purchase or remortgage of single self-contained units (SSC), rates start at 5.75% with the ICR set at pay rate, and a 5% product fee plus free valuation.
Paragon is also offering mortgages for SSC properties with a flat fee of £2995, with rates starting at 6.45%.
The flat-fee mortgages are available up to a maximum loan size of £1m, have no application fee and includes a free valuation.
The specialist lender has also launched limited-edition five-year fixed-rate products for landlords purchasing or remortgaging HMOs or MUBs.
Rates start at 6% with a 5% product fee, ICR calculated at 6%, and a maximum loan size of £4m with a free valuation.
For landlords who would prefer a £2995 flat fee, rates are priced at 6.7%, with an ICR calculation rate to match, and the maximum loan set at £1m, with a free valuation plus no application fees.
The mortgages are available to portfolio landlords with four or more BTL mortgaged properties in England, Scotland and Wales, operating through limited companies or as individuals.
Louisa Sedgwick, commercial director at Paragon (pictured above), said: “With swap rates falling recently, helped by better-than-expected inflation figures, we were keen to pass on these lower rates to customers as quickly as possible.
“These products are extremely competitive in the current market and being limited-edition means they may not be around for long; when they’re gone, they’re gone, as they say!
“With fixed- and percentage-fee options available — as well as maximum loan sizes up to £4m — we’re offering choice that we think will appeal to a range of portfolio landlords.”
