Paragon updates BTL range with rates starting at 3.55% – Mortgage Strategy

Paragon Bank has refreshed its buy-to-let (BTL) mortgage range, with rates starting from 3.55% and products available at up to 80% loan-to-value (LTV) and across both its core and tailored propositions.

The refreshed range spans two- and five-year fixed-rate options at 60%, 70%, 75% and 80% LTV, available for both purchase and remortgage applications.

Products are available to individual and limited company landlords across England, Scotland and Wales.

Within the single self-contained (SSC) range at 75% LTV, two-year fixed rates start from 3.55% on Paragon’s green mortgage products, available on properties with EPC ratings of A to C.

Equivalent products for properties with lower EPC ratings are available from 3.60%.

Meanwhile, five-year fixed rates start from 4.95% on green mortgage products, or 5.00% on equivalent products for properties with EPC ratings below C.

For landlords financing houses in multiple occupation (HMOs) and multi-unit blocks (MUBs), two-year fixed rates start from 3.70% at 75% LTV, while five-year fixed rates begin at 5.10%.

The range incorporates a variety of pricing structures, including nil-fee, percentage-fee and fixed-fee options. Selected products also include cashback of up to £1,000, while application fees vary according to product type and property category.

A selection of products has also been made available through Paragon’s tailored proposition.

Paragon Bank product manager James Harrison says: “While swap rates remain volatile, we’ve created efficiencies within our pricing and proposition processes that allow us to respond quickly to market movements when they occur.”

“At the same time, we’ve ensured brokers can access these products across both our Core and Tailored ranges.”