Paragon Bank has bolstered its range of BTL mortgages for portfolio landlords with the launch of new five-year fixed-rate products.
The limited-edition rates — available up to 75% LTV — are priced at 6.45% with a £2,995 fee and maximum loan size of £2m, or 6.54% with a £995 fee and £500,000 maximum loan.
The products are suitable for portfolio landlords financing single self-contained properties that fall into EPC bands A to C, while rates for homes with lower energy-efficiency ratings are priced 5bps higher.
Paragon is also offering similar mortgages for HMOs, with the £2995 fee option priced at 6.70% and rates on the £995 fee product set at 6.79%.
All products include free valuations and are available to landlords operating as individuals or through limited companies in England, Scotland and Wales, with ICR calculated in line with initial rates.
Louisa Sedgwick, commercial director at Paragon (pictured above), said: “We’re pleased to bring some new limited-edition products to the market to offer landlords additional choice.
“We know that brokers are looking at different ways to make deals work for their clients, trying to find the best balance between rates, fees and loan amounts, all within affordability constraints.”
