Rates now start from 3.55% with products available up to 80% LTV
Paragon Bank has refreshed its buy-to-let range across two-year and five-year fixed-rate options at 60%, 70%, 75% and 80% loan-to-value (LTV), available for both purchase and remortgage applications.
The products are available to individual and limited company landlords across England, Scotland and Wales.
Two-year fixed rates start from 3.55% on Paragon’s green mortgage products, available on properties with EPC ratings of A-C and available as part of the company’s single self-contained (SSC) range at 75% LTV.
Rates for equivalent products for properties with lower EPC ratings are available from 3.60%.
Meanwhile, 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.
HMO and MUB ranges also refreshed
For landlords financing Houses in Multiple Occupation (HMOs) and multi-unit blocks (MUBs), two-year fixed rates start from 3.70% at 75% LTV, while five-year fixed rates begin at 5.10%.
A variety of pricing structures are available to suit different buyers, including nil-fee, percentage-fee and fixed-fee options. Selected products also include cashback of up to £1,000. Application fees vary according to product type and property category.
A selection of products has also been made available through Paragon’s Tailored proposition, supporting buy-to-let applications that fall outside standard lending criteria.
James Harrison, product manager at Paragon Bank, said: “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. 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.”