Paragon Bank has slashed its core two-year fixed-rate BTL mortgages by 45bps, with rates now starting at 4.85%.
For single self-contained properties, rates are priced at 4.85% for those with EPC ratings of A-C and 4.90% where the EPC is rated D or E.
ICRs are calculated at 6.85% and 6.90% respectively.
Paragon is also offering the same product for HMOs and MUBs, with interest charged at 5.10% and ICR calculated at 7.10%.
The products incur a 5% fee and are available to portfolio landlords at up to 70% LTV.
The mortgages are suitable for landlords applying as individuals or through limited-company structures in England, Scotland and Wales.
Louisa Sedgwick, commercial director at Paragon Bank (pictured above), commented: “Our most recent rate reduction sees us quickly respond to the current stability of the swaps market, and take 45bps off our core two-year BTL fixed rate, offering our customers some competitively priced products.
“These should appeal to borrowers who would like the certainty of a fixed-rate product, but over a shorter two-year period.”
