Paragon launches new fixed rate buy-to-let products

Paragon Bank has expanded its buy-to-let product range with the addition of two and five-year fixed rate mortgages.

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

The products include two five-year options at 70% LTV and a two-year deal at 75% LTV, all available for remortgage or purchase.

A two-year fixed rate is available at 5.89% up to 75% LTV, while five-year fixes start at 6.25%. All products are offered with free mortgage valuations.

In addition to the launch of the new products, Paragon has also removed the early redemption fee on its two-year discounted variable product, currently priced at 4.09%, or 3.99% for properties with an EPC rating of between A and C.

Moray Hulme, director for mortgage sales at Paragon, said: “We are pleased to introduce these fixed rate products to our range, which complements the discounted variable products we launched last week. We think these are attractive products for landlords looking for certainty over the next two or five years.

"We have also removed the early redemption fee from our two-year discounted variable product, which gives landlords the ability to switch onto a fixed-rate if they need to.”