• Two-year term, available at up to 75% loan-to-value
• Track to fix option available, balancing flexibility and certainty
• Available for single self-contained properties, houses in multiple occupation and multi-unit blocks (MUBs)

Paragon Bank has added a limited-edition Discounted Standard Variable Rate (SVR) product to its range of buy-to-let mortgages, offering portfolio landlords the chance to ‘track to fix’.

The two-year product is available at up to 75% loan-to-value (LTV) and is priced at 4.73% which is Paragon’s SVR less 4.12%. It is available for single self-contained properties, houses in multiple occupation and multi-unit blocks.

The latest addition to the specialist lender’s range is offered with the ‘track to fix’ option. At any time during the discounted product term, a landlord can apply to switch to any available Paragon product switch fixed rate without incurring an early repayment charge.

Richard Rowntree, Managing Director for Mortgages at Paragon Bank, said: “It’s fantastic to be able to add another product to our range that is available with our track to fix option.

“Brokers have told us that a growing number of their clients want to see what happens to rates over the next year or two and we know that many borrowers like the certainty of fixed-rate mortgages. With no ERCs for landlords who switch to one of our fixes, track to fix provides a balance of flexibility and certainty.”

The mortgage is available to borrowers operating through limited companies or as individuals. It is subject to a 3.00% product fee. In addition, the product includes free valuations and is available to portfolio landlords - those with four or more buy-to-let mortgaged properties – in England, Scotland and Wales.

Rowntree added: “Alongside this limited-edition variable rate product, our core range includes fixed rate mortgages and products with varying fee levels, providing a range of solutions for brokers and their clients.”

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
[email protected]
www.paragonbank.co.uk 

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.