Paragon Bank has launched four 5-year fixed rate buy-to-let mortgages, featuring reduced rates and fees, alongside the re-pricing of its Standard Variable Rate (SVR).
The specialist lender is replacing four of its 5-year fixed rate mortgages with new products that feature lower rates and fees and are offered with £350 cashback.
The buy-to-let mortgages are available for portfolio landlords – those with four or more mortgaged buy-to-let properties – at up to 75% loan-to-value (LTV).
Moray Hulme (pictured), director for mortgage sales, said: “We’re starting the new year by replacing four of our 5-year fixes with mortgages that have lower headline rates as well as reduced fees.
Available at up to 75% LTV, these are competitive options for portfolio landlords who are either purchasing in response to strong tenant demand or remortgaging and looking for some certainty.”
Furthermore, when borrowed on properties with EPC ratings of A-C, Paragon’s rates are priced at 5.20% with a 3.00% fee or 5.40% with a 2.00% fee. On properties rated EPC D or E rates are 5.25% with a 3.00% fee or 5.45% with a 2.00% fee.
Selected products include free mortgage valuations and are available on houses in multiple occupation (HMO), multi-unit blocks (MUB) and single self-contained (SSC) properties.
Paragon has also increased its SVR from 7.85% to 8.35% to reflect the recent rise in the base rate of interest by the Bank of England.
