Paragon Bank has reduced the price of its five-year fixed-rate BTL mortgages.
The lender has taken a further 15bps off the price of its five-year fixes that come with a 5% fee, marking the second reduction the bank has made on these products in two weeks.
Rates now start at 5.60% for the purchase or remortgage of green properties with EPC ratings of A-C, 5.65% for single self-contained properties, and 5.85% for HMOs and MUBs.
Available at up to 75% LTV, all three mortgages include a free valuation with ICRs calculated at the same rate as initial interest rates.
The products are available to portfolio landlords — those 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: “We recently reduced rates on our five-year fixes and with the swaps market continuing on its recent run of relative stability, we’re in a position to pass this on to customers, further reducing rates on our 5% fee products.
“The fluidity that has characterised the market this year means that lenders sometimes have to respond to abrupt changes so products may not be available for long.”
