Paragon Bank has cut rates across its two-year fixed BTL products, with rates now starting from 3.89%.
The new rate, offered up to 70% LTV with a 5% fee, applies to single self-contained properties with A-C EPC ratings, increasing to 3.94% for homes with EPC D or E.
Landlords requiring up to 75% LTV can secure two-year fixed rates from 4.8% with a 3% product fee.
A 1.5% fee product is also available, with rates from 5.55% for the EPC A-C mortgage and 5.60% for EPC D and E.
Landlords financing the purchase or remortgage of HMOs or MUBs can access the same range, with rates from 4.14% at 70% LTV and 5.05% at 75% LTV.
“Since the start of the year, we’ve seen a steady increase in the proportion of landlords looking for two-year fixed-rate products and we have responded by launching these competitive rates, with a range of LTVs and fees, providing landlords with plenty of choice,” said Louisa Sedgwick, mortgages commercial director at Paragon Bank.
“Some landlords are keen to fix for a shorter duration than the traditional five-year term, so they have the ability to reassess the market in a couple of years when it is anticipated that rates will be lower.”
ICRs will be calculated at initial rate plus two percentage points.
The products are available for individual and limited company applications in England, Scotland and Wales.
The range includes a free mortgage valuation, but a £299 application fee applies.
