• Five-year fixed-rate buy-to-let mortgages, available at up to 75% loan-to-value
• Nil and 5% fee options
• Available for single self-contained properties (SSC), houses in multiple occupation (HMO) and multi-unit blocks (MUB)

Paragon Bank has reduced rates on six five-year fixed-rate buy-to-let mortgages, with lower rates on 5% fee products, as well as nil fee options that are now offered at up to 75% loan-to-value, previously 65%.

Paragon Bank has taken 20 basis points (bps) off its nil-fee five-year fixed-rate products, with rates starting at 6.10% for single self-contained (SSC) properties with an Energy Performance Certificate ratings of A-C. This increases by 5bps for purchasing or remortgaging properties with EPC ratings of D or E and 20bps for houses in multiple occupation (HMO) and multi-unit blocks (MUB).

The products are offered at up to 75% loan-to-value (LTV), previously 65%, and interest coverage ratios (ICRs) are calculated to align with initial rates.

The specialist lender has also reduced its 5% fee five-year fixed options by 10bps, with rates starting at 5.15% on the green product, 5.20% on the standard SSC and 5.40% for borrowers purchasing or remortgaging HMOs or MUBs. The products are available at up to 75% LTV and ICRs are calculated at 5.50%.

The mortgages are available in England, Scotland and Wales and are suitable for portfolio landlords – those with four or more buy-to-let mortgaged properties – applying through limited company structures or in their personal name.

Louisa Sedgwick, Mortgages Commercial Director at Paragon Bank, said: “We’re keen to see our customers benefit from the stability that we’ve seen return to the economy, so we’re pleased to reduce rates across some of our five-year fixed-rate products. With both nil and 5% fee options available, we are also in a position to provide landlords with more choice.”

She added: “We’re also upping the LTV, from 65% to 75%, on our nil fee products to provide options that will work for more landlords.”

All products include a free valuation and are subject to a £299 application fee.

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

For media enquiries contact:

Michael Clarke
Head of Media Relations
Paragon Bank
07740090746
[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 is 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.