Track to Fix is available across the BBR tracker range for single self-contained properties, HMOs and multi-unit blocks (MUBs).
Paragon Bank has reintroduced its Track to Fix feature across its Bank Base Rate (BBR) tracker buy-to-let (BTL) mortgages.
The feature lets existing customers switch to a fixed-rate Paragon product during their tracker term without paying an early repayment charge (ERC), as long as they meet eligibility requirements at the time of application.
Track to Fix is available across the BBR tracker range for single self-contained properties, houses in multiple occupation (HMOs) and multi-unit blocks (MUBs).
For single self-contained properties, 2-year BBR tracker mortgages are available up to 75% loan-to-value (LTV), with rates starting from 5.10% (BBR +1.35%) with a 1.50% fee.
A 0.75% fee option is available from 5.47% (BBR +1.72%).
Equivalent products for HMOs and MUBs start from 5.45% (BBR +1.70%) with a 1.50% fee, and the 0.75% fee option starts from 5.82% (BBR +2.07%).
James Harrison, product manager at Paragon Bank, said: “We’ve received a positive response since replacing our previous variable rate products with our Bank Base Rate tracker range and we’ve continued to review how we can further strengthen the proposition for brokers and landlords.
“Track to Fix proved a popular feature on our previous discounted variable rate products because it enabled customers to move into a fixed rate without incurring an early repayment charge.
“By reintroducing the feature to our BBR tracker range, existing customers have another reason to consider these products.”
Harrison added: “Landlords can benefit from a mortgage that tracks movements in Bank Rate while retaining the option to switch to a Paragon fixed-rate product at a later date should they wish to take a different approach to managing their borrowing.”