Paragon Bank has updated its buy-to-let (BTL) mortgage range with the addition of limited-edition five-year fixes and an 80% loan-to-value (LTV) deal.
The lender has added six limited-edition five-year fixes to its offering; three for loans up to £1m and three for borrowing between £1m and £4m. These products have a flat fee of £3,995 and the available loan size is subject to the LTV and the number of properties.
Rates start at 5.67% for loans up to £1m for single self-contained (SSC) properties with an Energy Performance Certificate (EPC) rating of A to C, rising by five basis points for properties with EPCs of D or E.
For borrowing above £1m and up to £4m, rates start at 5.79% for SSC properties with an EPC rating of A to C, rising by five basis points for properties rated D or E.
There are also two limited-edition five-year fixes for houses in multiple occupation (HMO) and multi-unit blocks (MUBs), with rates of 5.92% for loans up to £1m and 6.04% between £1m and £4m.
Landlords purchasing in their own name or under limited company structures can apply for the products, and they come with a free valuation.
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Paragon Bank’s reintroduced 80% LTV is a fee-free five-year fix, priced at 6.6% for SSCs with EPC ratings of A to C.
Jason Wilde, head of mortgage sales at Paragon Bank, said: “It’s fantastic to bring new limited-edition five-year fixes to the market, bolstering choice for landlords.
“With loans available at up to £4m with a flat £3,995 fee, as well as an 80% LTV option with nil fee, these products will particularly appeal to landlords who want to invest in higher-value properties.”