Paragon Bank has added six new two-year options to its range of BTL tracker mortgages.
These new mortgages, available at up to 75% LTV, have been launched in response to broker feedback.
Rates start at 5.1%, equivalent to the Bank of England’s Base Rate plus 1.35%, for single self-contained properties.
Landlords looking to finance HMOs or MUFBs can choose rates from 5.45%, equivalent to the Bank of England’s rate plus 1.70%.
Landlords can also choose between three fee options (-0.75%, 1% and 1.50%) and there are no early repayment charges on these and free valuations across the range. A £299 application fee applies to HMO and MUFB applications.
“Following feedback from brokers, the addition to the range follows the launch of six five-year Bank Base Rate tracker products in December last year, shortly after Bank Rate was cut from 4% to 3.75%,” said James Harrison, BTL product manager at Paragon Bank (pictured above).
“The latest additions feature the same benefits as the five-year versions – free valuations and no application fees on SSCs — and with further Bank Rate cuts forecast for this year, these products will be particularly appealing to landlords.”
