Paragon Bank has reduced rates by 15 basis points across its fixed-rate buy-to-let mortgage products in both its Core and Tailored propositions, with pricing now starting from 3.40%.
The reductions apply to two-year and five-year fixed-rate mortgages for purchasing or remortgaging single self-contained properties, Houses in Multiple Occupation (HMO) and Multi-Unit Blocks (MUBs).
The products are available through Paragon’s Core range, with selected options also offered through its Tailored proposition.
At 75% loan-to-value, two-year fixed rates start from 3.40% on Paragon’s Green Mortgage range for single self-contained properties with EPC ratings of A to C. Equivalent products for properties with EPC ratings of D or E start from 3.45%.
Both options carry a 5% product fee and include £500 cashback.
For landlords financing HMOs or MUBs, two-year fixed rates at 75% LTV begin at 3.55%, also with a 5% product fee and £500 cashback.
Alternative products are available with 3% or nil product fees, with rates starting from 4.55% and 6.05% respectively.
Five-year fixed rates at 75% LTV start from 4.80% on Green Mortgage products, with equivalent products for properties rated EPC D or E available from 4.85%.
These products carry a 5% fee and include £1,000 cashback. Five-year fixed rates for HMOs and MUBs start from 4.95%, also with a 5% fee and £1,000 cashback.
The wider range includes nil-fee, percentage-fee and fixed-fee options across products at 60%, 70%, 75% and 80% LTV, giving brokers a choice of fee structures when assessing the overall cost of borrowing for landlord clients.
All products include a free mortgage valuation. There is no application fee on mortgages for single self-contained properties, while products for HMOs and multi-unit blocks carry a £299 application fee.
Products available through Paragon’s Tailored proposition have also been reduced, supporting buy-to-let applications that fall outside standard lending criteria.
At 75% LTV, Tailored two-year fixed rates start from 5.15% for Green Mortgage-eligible single self-contained properties and 5.30% for HMOs and MUBs.
Five-year fixed rates begin at 5.55% and 5.70% respectively, with the five-year products including £1,000 cashback.
