Paragon launches limited edition five-year fixed rates

Paragon Bank has added six limited edition five-year fixed rate products to its range of buy-to-let mortgages for portfolio landlords, all available at 65% LTV.

Rates start at 4.65% for single self-contained homes with A, B or C category Energy Performance Certificates (EPC) and increases to 4.70% for properties with lower energy efficiency ratings.

Landlords purchasing or remortgaging HMOs or multi-unit blocks can secure rates at 4.90%. These five-year fixed-rate mortgages are offered with a 5% fee, with ICRs also calculated at 5.00%.

Paragon’s limited edition offering also features three fee-free options, which are priced at 5.70% for the green mortgage, 5.75% for homes EPC rated D or E, rising to 5.95% for HMOs and MUBs. ICRs are calculated in line with these initial rates.

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

Louisa Sedgwick, commercial director at Paragon Bank, said: “These limited-edition products are priced at around 25 basis points lower than our core range and provide more options for landlords looking to expand their portfolio or remortgage existing properties.

“We’re enhancing our range at 65% LTV to provide some attractive options for those who have larger deposits or who would like to leverage the equity in their portfolio to expand, increasing the number of homes that are very much needed to meet strong levels of tenant demand.”