Paragon Bank has reduced rates across 22 BTL mortgage products, with fixed deals now starting at 4.59% for both portfolio and non-portfolio landlords.
There is a 26bps reduction on Paragon’s 70% LTV two-year fixed-rate product at 4.59%, available to portfolio landlords for the purchase or remortgage of single self-contained homes with EPC ratings of A-C.
Rates rise to 4.64% on properties banded EPC D or E and 4.84% on HMOs and MUBs.
The product fee on the two-year fixes is set at 5% and ICRs are calculated at two percentage points above initial rates.
All offerings include a free valuation and are available to landlords applying as individuals or within limited company structures in England, Scotland and Wales.
Louisa Sedgwick, commercial director at Paragon Bank (pictured above), said: “In this market, landlords want options, so we are pleased to offer these competitive rates with a mix of terms, LTVs, and fees.
“With a range of different indicators suggesting that the UK economic outlook is strengthening, the stabilisation of swap rates has continued, and — as a result — we’ve been able to again reduce rates on some of our key products.”
