An alternative product for properties with ‘A’ to ‘C’ EPC ratings is available at a 5.70% fixed rate, which rises to 5.75% for ‘D’ or ‘E’-rated properties, and to 5.90% for HMOs and MUBs. These options are capped at a maximum loan amount of £250,000.

The new mortgage products are accessible to landlords who own four or more properties with buy-to-let mortgages and are applicable whether the properties are held in personal names or through limited company structures across England, Scotland, and Wales. Interest coverage ratios (ICRs) are determined based on the initial rate, and a £299 application fee is required.

Earlier this year, Paragon added new five-year fixed rates to its buy-to-let range, also offering both fee-based and fee-free options.

“We continuously monitor the market and review our product suite to ensure we’re offering value for borrowers,” said Louisa Sedgwick (pictured), commercial director at Paragon Bank. “Equally important as all of the number crunching is listening to brokers who have told us that low-fee options would offer a solution in scenarios where purchase prices are lower or capital doesn’t appreciate as quickly.

“This is where these products fit in. We’re broadening the choice on offer to brokers, ensuring we have products in our range to cater for all landlords regardless of the loan size.”