Paragon Bank has launched four new limited edition 5-year fixed rate buy-to-let mortgages, offering rates starting at 4.90%.
The mortgages are available for single self-contained properties, houses in multiple occupation and multi-unit blocks, up to 75% loan-to-value (LTV).
The maximum loan is £4m and the interest coverage ratio calculation rate is 5.50%. The products are available for portfolio landlords in England, Scotland and Wales, and come with free valuations.
The Annual Percentage Rate of Change (APRC) is 7.10% and each mortgage is subject to an application fee of £299.
Moray Hulme (pictured), director for mortgage sales at Paragon Bank, said: “The launch of these limited-edition products sees us replace four of our 5-year fixes with mortgages that feature lower rates.
“This improves our range of fixed rate products so is good news for portfolio landlords who want some certainty when remortgaging one of their existing properties or purchasing homes in response to what is now sustained strong tenant demand.”
