Paragon Bank has launched a limited-edition range of five-year fixed BTL mortgages with its lowest rates in three years.
These rates start from 4.29% and are available for landlords purchasing or remortgaging single self-contained (SSC) properties with EPC ratings between A and C.
Five-year options are also available for lower-rated EPC SSCs and HMOs, from 4.34% and 4.64% respectively.
All of these new mortgages are available at up to 65% LTV with a 5% product fee.
Nil fee versions are available for landlords but at 1% higher rates.
These new products also carry £150 application fees and 5% interest coverage ratios.
“We’ve launched these limited-edition products to provide landlords with more choice and offer solutions that suit a broader spectrum of customers,” said James Harrison, product manager at Paragon Bank Mortgages (pictured above).
“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.”
