Paragon Bank has released a range of buy-to-let (BTL) deals at 60% loan to value (LTV), with two- and five-year fixed rate terms.
This includes six options for single self-contained (SSC) properties and three products for houses in multiple occupation (HMOs) and multi-unit blocks (MUBs).
Rates start at 4.34% for the green product for SSCs, rising by five basis points for homes with lower energy-efficiency ratings.
Rates begin at 4.6% for HMOs and MUBs.
The products come with a zero-fee or 3% fee option.
The SSC products have no application fee, while the HMO and MUB mortgages have a £150 application fee. Interest coverage ratios (ICRs) are calculated at the initial rate plus two percentage points.
All products are eligible for Paragon Bank’s multi-property proposition, which applies to applications of between four and 99 properties. This allows landlords to submit one application for multiple properties while incurring no application fees and only being subject to one legal advice certificate across the application, rather than one for each property.
James Harrison (pictured), product manager at Paragon Bank, said: “We continue to see demand from landlords who are choosing to borrow at lower LTVs. We’ve responded by extending our 60% LTV offering across SSC, HMO and MUB properties, while giving landlords the flexibility to choose between 3% and nil-fee structures.
“Economic instability fuelled by the war in Iran continues to influence funding costs, but we remain responsive to market conditions. With swaps plateauing and rates slightly easing recently, we’re able to provide more options for landlords with this keenly priced limited-edition range.”