• Rates starting at 6.45% and fixed fees from £995
• Five-year terms, available at up to 75% loan-to-value
• Available for single self-contained properties (SSC), houses in multiple occupation (HMO) and multi-unit blocks (MUB)

Paragon Bank has added to its range of buy-to-let mortgages for portfolio landlords, launching limited edition five-year fixed rate products with rates starting at 6.45% and fixed fees from £995.

Rates on the five-year fixed rate mortgages, available at up to 75% loan-to-value (LTV), are priced at 6.45% with a £2,995 fee and maximum loan size of £2 million or 6.54% with a £995 fee and £500,000 maximum loan.

The products are suitable for portfolio landlords financing single self-contained properties that fall into EPC bands A-C, while rates for homes with lower energy efficiency ratings are priced 5bps higher.

Paragon is also offering similar mortgages for HMOs, with the £2995 fee option priced at 6.70% and rates on the £995 fee product set at 6.79%.

Interest Coverage Ratios (ICR) are calculated in line with initial rates. All products include free valuations and are available to landlords operating as individuals or through limited companies in England, Scotland and Wales.

Louisa Sedgwick, Commercial Director at Paragon Bank, said: “We’re pleased to bring some new limited-edition products to the market to offer landlords additional choice.

“We know that brokers are looking at different ways to make deals work for their clients, trying to find the best balance between rates, fees and loan amounts, all within affordability constraints.

“For some, such as those borrowing higher amounts up to our new £2 million limit, the £2995 fee mortgage can be a good value option. Likewise, the £995 fee product could be really well suited to landlords who want to borrow up to £500k.”

For more information, including Annual Percentage Rates of Change (APRC) and Early Redemption Charges, please visit the Paragon website here.

For media enquiries contact:

Jordan Lott
Media Relations Manager
Tel: 0121 712 2319
[email protected] 

Notes to editors:

Paragon lends to private individuals and limited companies and provides mortgages suitable for single, self-contained properties, as well as HMOs and multi-unit blocks. Paragon can accommodate higher aggregate lending limits and more complex letting arrangements including local authority leases and corporate leases along with standard ASTs.

Paragon Bank PLC a subsidiary of the Paragon Banking Group PLC which is a FTSE 250 company based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group PLC has over £14 billion of assets under management, helping more than 340,000 customers to achieve their ambitions.