Paragon cuts buy-to-let rates by up to 50bps 

Paragon Bank has refreshed its range of buy-to-let mortgages, reducing rates on selected products by 50bps.

The refresh sees reductions across two and five-year fixed rate buy-to-let mortgages, with a choice of nil, 3% and 5% fees, alongside a £3,995 fee product.

The products are available for purchase and remortgage with options at 65%, 70% and 75% LTV.

Highlights include a 70% LTV two-year fix, down to 3.64% for single self contained (SSC) properties with EPC ratings of A-C, with a 5% initial fee and £299 application fee.

A limited edition 65% LTV five-year fix is available from 4.59% for SSC properties (EPC A-C) with a 5% fee and £150 application fee.

A 75% LTV five-year fix is now starts from 5.55% for SSC properties (EPC A-C) with a £3,995 fee, £299 application fee and £750 cashback.

These rates increase by 5bps for properties with an EPC rating of D or E and 25bps for HMOs and multi-unit blocks (MUB).

All products are available for individual and limited company applications in England, Scotland and Wales.

James Harrison, product manager at Paragon Bank, said: “The economic uncertainty surrounding the Budget has largely subsided, helping to bring swap rates down. Passing this on to our customers, we’ve reduced rates across a wide range of buy-to-let mortgages.

“The range refresh sees us offer competitive rates across different fee options and products available at 65%, 70% and 75% LTV. A selection of our products benefit from £750 cashback, with others offering a reduced application fee of £150.”