Paragon Bank is now offering landlords deals on its two-year fixed-rate BTL mortgages, including rates from 3.94% and reductions of up to 35bps.
The lender’s new 70% LTV two-year fixed rate product starts at 3.94% for green A-C EPC-rated SCC properties, 3.99% for SSC properties at EPC D-E and 4.19% for HMOs and MUBs.
This is Paragon's lowest two-year fixed rate for over 18 months and the product comes with a 5% fee and is available for portfolio landlords.
Its 75% LTV two-year fixed rate products with a 3% fee have been slashed by 35bps, starting at 4.85% for green properties, 4.90% for standard properties and 5.10% for HMOs and MUBs.
Louisa Sedgwick, commercial director at Paragon (pictured above), said: “Although there is still work to do to stabilise the economy, things do seem to be heading in the right direction and the general feeling is that rates are coming down.
“This means that we’re seeing landlords seek the stability of a fixed rate but over the shorter two-year term so they can reassess the market in a couple of years’ time.
“With it being Valentine’s Day, we wanted to show some love to our landlord customers so we’re offering our lowest rate on two-year fixes for new customers in over 18 months and have taken 35bps off our 3% fee two-year product too.”
