Paragon Bank cuts rates by up to 15bps

Paragon Bank has made rate cuts of up to 15bps across its various BTL ranges, with immediate effect.

Rates are now available from 3.55% and up to 80% LTV across both its Core and Tailored propositions.

The rate cuts impact two-year and five-year fixed-rate options at 60%, 70%, 75% and 80% LTV, available for both purchase and remortgage applications. Products are available to individual and limited company landlords across England, Scotland and Wales.

Within the SSC range at 75% LTV, two-year fixed rates start from 3.55% on Paragon's green mortgage products, available on properties with EPC ratings of A-C.

Equivalent products for properties with lower EPC ratings are available from 3.6%. For landlords seeking longer-term payment certainty, five-year fixed rates start from 4.95% on green mortgage products, or 5.00% on equivalent products for properties with EPC ratings below C.

For landlords financing HMOs and MUFBs, two-year fixed rates start from 3.7% at 75% LTV, while five-year fixed rates begin at 5.1%.

The range incorporates a variety of pricing structures, including nil-fee, percentage-fee and fixed-fee options. Selected products also include cashback of up to £1,000, while application fees vary according to product type and property category.

"While swap rates remain volatile, we've created efficiencies within our pricing and proposition processes that allow us to respond quickly to market movements when they occur,” said James Harrison, product manager at Paragon Bank (pictured above).

“At the same time, we've ensured brokers can access these products across both our Core and Tailored ranges.

“This provides options for landlords with straightforward borrowing requirements, as well as those with more complex circumstances that may benefit from a tailored underwriting approach."