Paragon Bank has announced the launch of a range of nine limited-edition buy-to-let mortgages, including 5-year fixed-rate deals with zero or flat fees, discounted standard variable rates (SVR), and green options.
The bank has unveiled this new range in response to broker feedback, aiming to provide landlords with more choices.
The range includes nil-fee 5-year fixed rates for those purchasing or remortgaging single self-contained (SSC) properties at rates starting from 6.35% or houses in multiple occupation (HMOs) at 6.60%.
Landlords also have the option of choosing a 5-year fixed rate with a flat fee of £2,995, with rates beginning at 6.05% for SSCs or 6.30% for HMOs. These 5-year fixed-rate deals are offered at 65% loan-to-value (LTV) on loans up to £500,000.
Additionally, Paragon has introduced three 12-month Discounted SVR rates, which start at 5.50% for SSCs and 5.75% for HMOs, carrying a 1.50% fee. All these products include free valuations, no application fees, and are available to portfolio landlords in England, Scotland, and Wales.
Louisa Sedgwick (pictured), commercial director at Paragon Bank, said: “We’re delighted to launch a range of limited-edition products that we feel provide something a little different to those offered by many of our competitors.
“We’ve listened to brokers who have told us that nil and fixed fee options should appeal to landlords wanting higher loan amounts, up to £500,000, alongside the certainty of fixing rates for five years.
“In addition, we have 12-month discounted variable rate products that provide competitively priced options for those who want to remain active in the market without committing to a longer term.”
She added: “These deals complement our core range, which includes a mix of lower rates and different fees, in addition to options like our track to fix product.
“Having the ability to secure a new discounted variable rate and then switch to a Paragon fix at any time during the term offers a mix of flexibility and certainty that may be particularly appealing given the fluidity of the current market.”
