The new products include a 3.29% two-year fixed rate for single self-contained (SSC) properties with an EPC rating of A to C, and a 3.34% rate for properties with lower EPC ratings. A further 3.64% option is available for houses in multiple occupation (HMOs) and multi-unit blocks.
As part of the launch, Paragon’s limited edition products come with a free mortgage valuation and £500 cashback. The SSC products have no application fee, while the HMO and multi-unit block options carry a £299 fee. All products include a 5% product fee.
James Harrison, mortgages product manager at Paragon Bank, commented:
“Our research shows that the majority of landlords looking for two-year fixed options are seeking LTVs above 70%, so we are confident the combination of attractive rate and 75% LTV will be appealing for landlords seeking to grow portfolios or remortgage existing properties.”
“There remains strong demand for energy efficient homes in the rental sector and landlords are responding to that trend. Our green options, which are available for properties with EPC ratings of A to C, offer great value for those landlords seeking energy efficient properties.”
Paragon, a FTSE 250 buy-to-let specialist, continues to expand its mortgage range to meet growing landlord demand for competitive fixed-rate products and support the transition towards more energy-efficient rental properties.
