Paragon launches discounted SVR buy-to-let mortgages

Paragon Bank has launched four discounted standard variable rate buy-to-let mortgages.

The products are available for portfolio landlords - those with four or more mortgaged properties – purchasing or remortgaging HMOs, multi-unit blocks or single self-contained (SSC) properties.

Available at 75% LTV, the discounted SVR products span 12 month, two-year, three-year and five-year terms. Rates start at 3.99% and all four products are offered with free mortgage valuations.

A 12 month rate starts at 6.10% with no product fee, two-year variables start at 3.99% with a 1% fee, three-year products from 4.29% and five-year rates from 4.29%, both with a £5,000 fee.

Moray Hulme, director of mortgage sales at Paragon, said: “Speaking to brokers, we know that for all of the economic turmoil of the past few weeks, landlords are still seeking to modify their portfolios in response to sustained strong tenant demand. To support this investment, we have launched four discounted SVR products that provide landlords with flexibility and prices that are competitive in today’s market.”