Paragon expands buy-to-let mortgage range with launch of 5-year fixes

Paragon Bank has expanded its range of buy-to-let (BTL) mortgages for portfolio landlords by launching six 5-year fixed rate products, with 2.5% and £1,999 fee options.

Paragon’s 2.5% fee 5-year fixed rate product starts at 5.35% for energy efficient (rated A to C) single self-contained (SSC) homes, increasing to 5.40% for properties with Energy Performance Certificate (EPC) ratings of D or E.

The specialist lender also launched a product, priced at 5.60%, for portfolio landlords purchasing or remortgaging houses in multiple occupation (HMO) or multi-unit blocks (MUB).

Alternatively, the £1,999 fee option is priced at 5.70% for SSCs with EPC ratings of A to C, increasing by 0.05% to 5.75% for properties rated EPC D or E, and 5.90% for HMOs and MUBs.

A maximum loan size of £250,000 applies to these products.

Louisa Sedgwick (pictured), commercial director at Paragon Bank, said: “We continuously monitor the market and review our product suite to ensure we’re offering value for borrowers.

“Equally important as all of the number crunching is listening to brokers who have told us that low-fee options would offer a solution in scenarios where purchase prices are lower or capital doesn’t appreciate as quickly.  

“This is where these products fit in. We’re broadening the choice on offer to brokers, ensuring we have products in our range to cater for all landlords regardless of the loan size.”