Paragon Bank has launched new five-year fixed-rate BTL mortgages with nil product fees, rates starting at 5.8% and £750 cashback on selected products.
Available at up to 70% LTV, rates start at 5.8% on Paragon’s green mortgage that is suitable for the purchase or remortgage of single self-contained (SSC) properties with EPC rating of A, B or C.
This increases by 5bps on properties with lower EPC ratings.
For landlords purchasing or remortgaging HMOs and MUBs, rates start at 6.05%.
All products are available to landlords applying through limited company structures or in personal name in England, Scotland and Wales.
Louisa Sedgwick, commercial director at Paragon (pictured above), said: “While we know that initial rates starting at 5.80% won’t work for all borrowers, charging no product fees can make the mortgages we’ve launched today really appealing for others, particularly those buying or remortgaging higher value properties.
“We are delighted to see swap rates continuing to fall this week, highlighting how an element of stability is returning to the mortgage market, enabling us to adjust our range making our products more attractive to landlords.”
