Paragon Bank has cut rates across its BTL range by up to 20bps.
The changes apply across both two-year and five-year fixed rate products and the range now starts from 3.55%, with options available for purchase and remortgage up to 75% LTV.
The lender has also refreshed its available fee structures.
Landlords can now choose from a broad range of fee structures, including nil, 3%, 4%, 5% and a flat £3,995 fee.
At up to 75% LTV, two-year fixed rates now start from 3.55% on Paragon’s green mortgage range, which is available on properties with EPC ratings of A-C for SSC properties. For homes with lower energy efficiency, rates are priced 5bps higher.
Within the five-year fixed range, rates at 75% LTV now start from 4.75% on green products, again for SSC properties, with the same EPC criteria and pricing differentials applying.
Paragon has also reduced rates across fixed products for HMOs and MUFBs, which are priced 15bps higher than equivalent green EPC SSC products.
“In this environment, we are seeing many opt for higher fee products in order to secure a lower headline rate,” said Jason Wilde, head of mortgage sales at Paragon Bank (pictured above).
“That won’t be the right approach for everyone, however.
“By reducing rates across the whole range and maintaining a breadth of fee options, we’re giving landlords the flexibility to choose products that best suit their own circumstances and portfolio strategy.”
