Paragon launches limited buy-to-let range and reintroduces 80% LTV product

Paragon Bank has bolstered its range of buy-to-let mortgages with the launch of five-year fixed rate limited edition products, available up to 70% LTV, in addition to reintroducing an 80% LTV product. 

Paragon has launched six limited edition five-year fixed rate products - three for loans up to £1 million and three for mortgages above £1 million up to £4 million (dependant on LTV and number of properties), all with a flat fee of £3,995. 

Rates on products with a maximum loan of £1 million start at 5.67% for single self-contained (SSC) properties with an EPC rating of A-C, increasing by 5bps for those with EPCs of D or E. 

For loans of up to £4 million, rates start at 5.79% for SSC properties with an EPC rating of A-C, increasing by 5bps for those with EPCs of D or E.

Two limited edition five-year fixed rate products are available for HMOs and multi-unit blocks, priced at 5.92% for loans up to £1 million and 6.04% for loans between £1 million and £4 million. 

The products are available for landlords purchasing in their own name or limited company structures and come with free valuation. 

The specialist lender has also reintroduced an 80% LTV five-year fixed rate product, with rates starting at 6.60% for single self-contained properties with EPC ratings of A-C. This product comes with no fee. 

Jason Wilde, head of mortgage sales at Paragon Bank, said: “It’s fantastic to bring new limited edition five-year fixes to the market, bolstering choice for landlords. With loans available at up to £4 million with a flat £3,995 fee, as well as an 80% LTV option with nil fee, these products will particularly appeal to landlords who want to invest in higher value properties.”