Paragon Bank has bolstered its range of buy-to-let mortgages by launching limited edition two-year fixed-rate products.

Paragon’s new two-year fixed rate mortgages are priced from 3.45% for properties rated EPC A-C, with a 4.00% product fee, currently the most competitive rate when compared to equivalent products across the market.

The finance is available at up to 70% loan-to-value (LTV) for purchasing or remortgaging single self-contained (SSC) properties, for which Paragon has also removed the application fee.

Interest Coverage Ratios (ICRs) are calculated at 5.5%.

Paragon is offering an equivalent product for purchasing or remortgaging Houses in Multiple Occupation (HMOs) and multi-unit blocks (MUBs), with rates priced at 3.80% and stressed at 5.80%.  

Customers can benefit from £500 cashback on completion, as well as free mortgage valuations.  

James Harrison, Paragon Bank Mortgages Product Manager, says: “With the economy settling a little following recent disruption, swap rates have gradually reduced, enabling us to lower rates for landlord customers.

“It’s fantastic to be able to offer some market-leading rates on two-year fixed deals, which brokers tell us are a popular option currently. Removing the application fee on our SSC products and offering cashback and free mortgage valuations also provides landlords with some attractive options.

“This week we announced a streamlined process for landlords with up to 15 properties, made possible by the launch of our bespoke mortgage application platform, requesting fewer supporting documents and speeding up application time. It’s a significant change and means a broader spectrum of brokers and landlords are able to benefit from these competitive products.”