"We are constantly reviewing our range in light of the changing economic environment"
Paragon Bank has added new limited edition fixes to its range of buy-to-let mortgages, with rates starting at 4.85%.
Non-portfolio landlords with fewer than four buy-to-let mortgaged properties can choose between two two-year fixed rate mortgages available at up to 70% LTV. Rates on Paragon’s green mortgage product, available to purchase or remortgage properties with EPC ratings of A-C, start at 4.85%, with interest coverage ratio calculated at 6.85% and a 5% fee.
A limited edition five-year fix has also been added to Paragon’s non-portfolio range. The product is available at up to 75% LTV with interest and ICR calculation rates starting at 6.05% on the green mortgage, increasing by 5bps for purchasing or remortgaging properties with EPC ratings of D or E.
The lender has also added products to its range of buy-to-let mortgages for portfolio landlords, all offered at up to 75% LTV with a 3% fee.
When purchasing or remortgaging single self-contained properties, rates start at 5.94% and ICR is set at 7.94% when borrowed over two years, while initial and ICR rates are both set at 6.05% on the five-year fixed rate product.
For Houses in Multiple Occupation (HMO) and Multi-Unit Blocks (MUB) initial rates start at 6.19% with an 8.19% ICR rate when fixed over two years. Paragon’s equivalent five-year product has an initial and ICR rate of 6.30%.
All products include a free valuations and are available to landlords applying as individuals or within limited company structures in England, Scotland and Wales.
Louisa Sedgwick, commercial director at Paragon Bank, said: “We are constantly reviewing our range in light of the changing economic environment and with data to suggest that this is improving, we’re able to bring some new excitingly priced products to the market.
“The latest additions to our range of buy-to-let mortgages see us improve the choice we’re offering landlords, with a range of different rates, fees and terms for both experienced portfolio landlords as well as those with less than four buy-to-let properties.”
