Paragon Bank has launched four new limited edition five-year fixed-rate BTL mortgages.
Two of the new products have been designed for landlords with three or fewer mortgaged BTL properties, while the remaining two are available for those with four or more BTL dwellings.
All four products are available at up to 65% LTV for single self-contained properties, and come with a £2,995 fee.
Rates start from 5.45% for the purchase or remortgage of properties with EPC ratings of A-C, going up to 5.50% and upwards for D or E-rated rental homes.
Interest coverage ratios are calculated in line with initial rates and the products are available for individual and limited company applications in England, Scotland and Wales.
Louisa Sedgwick, mortgages commercial director at Paragon Bank (pictured above), said: “We’ve launched these limited-edition products to provide landlords with more choice and offer solutions that suit a broader spectrum of customer.
“Our expertise means that we’re sometimes seen as an HMO or multi-unit block lender; while it is true that we do have lots of experience in this space and work with established landlords, we also support newer entrants to the market who may be growing their portfolios with more simple propositions, such as single self-contained properties.
“Offered at a lower LTV of 65%, these products will be particularly appealing to those that can put down a slightly larger deposit to benefit from lower rates.”
