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Paragon reduces BTL rates

Paragon has refreshed its buy-to-let mortgage range, offering lower interest rates, no up-front fees and £350 cashback on selected products.

The new range includes two- and five-year fixed rate mortgages for portfolio landlords and five-year fixed rate mortgages for non-portfolio landlords, with products available at up to 80% Loan to Value (LTV).

Portfolio deals include a five-year fixed rate mortgage at 3.7% for landlords with single self-contained units (SSCs) and one at 3.75%, for landlords with houses in multiple occupation (HMOs) or multi-unit blocks (MUBs).

In both instances, landlords benefit from no product fee, no application fee, a free mortgage valuation and £350 cashback, previously £250 cashback.

John Heron, director of mortgages at Paragon, commented: “Interest rates on new mortgage products have rarely been as competitive across the market as they are today.

“By cutting up-front costs and giving landlords flexibility to manage other expenses using cashback, we’re demonstrating our commitment to enabling the widest possible access for customers.”

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