Paragon reduces rates across buy-to-let 2-year fixes

Paragon Bank is offering landlords reduced rates on its 2-year fixed-rate buy-to-let mortgages, including its lowest rate for 18 months and reductions of up to 0.35%.

Key highlights include a new 70% loan-to-value (LTV) 2-year fixed rate product starting at 3.94% for green A to C Energy Performance Certificate (EPC) rated single self-contained (SCC) properties, 3.99% for SSC properties at EPC D to E and 4.19% for homes in multiple occupancy (HMOs) and multi-unit blocks (MUBs).

This is Paragon’s lowest 2-year fixed rate for over 18 months and the product comes with a 5% fee.

In addition, 75% LTV 2-year fixed rate products with a 3% fee have reduced by0.35%, starting at 4.85% for green properties, 4.90% for standard properties and 5.10% for HMOs and multi-unit blocks.

75% LTV 2-year fixed rate products with a 3% fee, now start at 4.85% for green properties and 4.90% for standard properties.

Louisa Sedgwick (pictured), commercial director at Paragon Bank, said: “Although there is still work to do to stabilise the economy, things do seem to be heading in the right direction and the general feeling is that rates are coming down.

“This means that we’re seeing landlords seek the stability of a fixed rate but over the shorter two-year term so they can reassess the market in a couple of years’ time.

“With it being Valentine’s Day, we wanted to show some love to our landlord customers so we’re offering our lowest rate on 2-year fixes for new customers in over 18 months and have taken 0.35% off our 3% fee 2-year product too.”