Paragon launches new five-year fixes

Landlords purchasing single self-contained properties with EPC ratings of A-C can secure finance at up to 65% LTV with interest fixed at 5.35% for five years, increasing by 5bps to 5.4% on homes with lower energy ratings of D or E.

ICRs are calculated at 5.5% on both products.

The lender has also added a 65% LTV, five-year fixed-rate option for HMOs and MUBs at 5.6%.

The ICR rate for these products is also set at 5.6%.

The BTL mortgages come with a 5% fee and are available for portfolio landlords applying as individuals or within limited company structures in England, Scotland, and Wales.

Louisa Sedgwick, commercial director at Paragon (pictured above), said: “We know that portfolio landlords remain active in the market, with many having built up good levels of equity across their portfolios.

“We’ve launched these five-year fixes to provide these landlords with competitively priced options.

“These complement the two-year fixed-rate mortgages we recently brought to the market , offering landlords the certainty of fixed interest rates over two popular terms.”