Paragon Bank has expanded its buy-to-let product range with the addition of 2- and 5-year fixed-rate mortgages.
The products are available for portfolio landlords – those with four or more mortgaged properties – purchasing or remortgaging houses in multiple occupation (HMO), multi-unit blocks (MUB) and single self-contained (SSC) properties.
The products include two 5-year options at 70% loan-to-value (LTV) and a 2-year deal at 75% LTV, all available for remortgage or purchase. Rates start at 5.89% and all products are offered with free mortgage valuations.
In addition to the launch of the new products, Paragon has also removed the early redemption fee on its 2-year discounted variable product, currently priced at 4.09%, or 3.99% for properties with an EPC rating of between A and C.
Moray Hulme (pictured), director for mortgage sales, said: “We are pleased to introduce these fixed-rate products to our range, which complements the discounted variable products we launched last week.
“We think these are attractive products for landlords looking for certainty over the next two or five years.
“We have also removed the early redemption fee from our two-year discounted variable product, which gives landlords the ability to switch onto a fixed-rate if they need to.”
