Paragon has launched a range of new fixed rate products for those seeking to make fresh buy-to-let acquisitions as well as remortgage existing properties in their portfolio.
The lender’s new five year fixed rate loans include rates of 3.75% for buy-to-let investors borrowing up to 75% loan-to-value (LTV), with interest coverage ratios from 125%.
The range also includes a two year fix at 3.25% for lending up to 65% LTV and another at 3.4% for lending up to 75% LTV.
John Heron, managing director of Paragon Mortgages, said: “The first quarter is an extremely busy time in the buy-to-let market as landlords review their portfolios and plan for the year ahead.
“The tax changes being introduced in April make it more important than ever for landlords to think ahead and minimise costs where possible.
“These products offer landlords the opportunity to put in place longer term mortgage finance, whilst taking advantage of the beneficial impact of today’s record low market rates.”