For the second time in two weeks, Paragon Bank has reduced the price of its limited-edition, 5-year fixed rate, 5% fee, buy-to-let mortgages.
The specialist lender has taken a further 15bps off the price of its limited-edition 5-year fixes that come with a 5% fee.
Rates now start at 5.60% for the purchase or remortgage of ‘green’ properties with EPC ratings of A–C, 5.65% for single self-contained properties and 5.85% for HMOs and MUBs.
The buy-to-let mortgages are available at up to 75% loan-to-value (LTV) and interest coverage ratios are calculated at the same rates as initial interest rates.
Each of the three mortgages also includes a free valuation.
Louisa Sedgwick (pictured), commercial director at Paragon Bank, said: “We recently reduced rates on our 5-year fixes and with the swaps market continuing on its recent run of relative stability, we’re in a position to pass this on to customers, further reducing rates on our 5% fee products.
“This should see us amongst the most competitive 5-year fixed rate limited company buy-to-let mortgages with 5% fee or less.”
She added: “To reiterate what I said when we launched these now reduced limited-edition products, the fluidity that has characterised the market this year means that lenders sometimes have to respond to abrupt changes so products may not be available for long.”
The mortgages are available to portfolio landlords – those with four or more buy-to-let mortgaged properties – in England, Scotland and Wales, operating through limited companies or as individuals.
