Paragon Bank has bolstered its range of buy-to-let mortgages with the launch of five-year fixed-rate limited edition products, available at up to 70% loan-to-value (LTV), in addition to reintroducing an 80% LTV product.
Paragon has launched six limited edition five-year fixed 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 up to £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 above £1 million 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 Houses in Multiple Occupation 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, Paragon Bank head of mortgage sales, 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.”
