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 and five-year fixed rate for purchasing or remortgaging single self-contained properties, HMOs 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% LTV, 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 no 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 fee-free, 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, 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.
James Harrison, mortgages product manager at Paragon Bank, said: “These reductions provide landlords with lower pricing across a broad selection of two-year and five-year fixed products, covering both standard and more specialist property types.
“The range has been structured to provide a choice of rates and product fee arrangements, including nil-fee, percentage-fee and fixed-fee mortgages. Free valuations across the range, alongside no application fee on products for single self-contained properties, also enables brokers to consider the upfront costs as well as the rate and fee structure when discussing requirements with landlord clients.”
