According to the lender, four of its 5-year fixed-rate mortgages have been replaced with new products that feature lower rates and fees and are offered with £350 cashback. The buy-to-let products are available for portfolio landlords - those with four or more mortgaged buy-to-let properties – at up to 75% loan-to-value.
When borrowed on properties with EPC ratings of A-C rates are priced at 5.20% with a 3.00% fee or 5.40% with a 2.00% fee. On properties rated EPC D or E rates are 5.25% with a 3.00% fee or 5.45% with a 2.00% fee.
Moray Hulme, Director for Mortgage Sales, said: “We’re starting the new year by replacing four of our 5-year fixes with mortgages that have lower headline rates as well as reduced fees. Available at up to 75% LTV, these are competitive options for portfolio landlords who are either purchasing in response to strong tenant demand or remortgaging and looking for some certainty.”
Selected products include free mortgage valuations and are available on houses in multiple occupation, multi-unit blocks and single self-contained properties.
Paragon has also increased its Standard Variable Rate from 7.85% to 8.35% to reflect the recent rise in the base rate of interest by the Bank of England.
