Paragon Bank has introduced two buy-to-let (BTL) mortgage products with up to 80% loan-to-value (LTV).
These include reduced rates on existing products and no application fees on selected mortgages.
The 80% LTV products are available for purchasing or remortgaging single self-contained (SSC) properties with Energy Performance Certificate (EPC) ratings of A to C.
They offer fixed rates over 2-year and 5-year terms, both priced at 6.14% with no product fee and a £299 application fee.
Paragon has also reduced rates by 0.10% on all 70% and 75% LTV products for SSCs with high energy efficiency ratings.
2-year fixed rates now start at 3.24% with a 5% product fee and £299 application fee.
At 75% LTV, 2-year fixes are priced from 4.24% with a 3% product fee and no application fee.
5-year fixes start at 4.74% with a 5% fee and £299 application fee.
James Harrison (pictured), mortgages product manager at Paragon Bank, said: “Reducing rates by 0.10% on select SSC mortgages provides some great value options for landlords.
“Also removing application fees on our 75% LTV 3% product fee range will reduce up-front borrowing costs, offering additional value for landlords, particularly those with larger portfolios.”
Russell Anderson, commercial director of mortgages at Paragon Bank, said: “Recent UK Finance figures revealed significant growth in buy-to-let purchase and remortgage lending.
“This suggests that landlords are feeling more confident and actively expanding their portfolios, perhaps targeting higher-yielding stock, or improving the properties they already own.
“Expanding our range with buy-to-let mortgages available on SSCs at up to 80% LTV supports this, providing landlords who want to borrow more with additional options.”
