Paragon Bank has refreshed its range of buy-to-let mortgages, reducing rates on selected products by 50bps.
The refresh sees reductions across two-year and five-year fixed rate buy-to-let mortgages, with a choice of nil, 3% and 5% fees, alongside a £3,995 fee product. The products are available for purchase and remortgage with options at 65%, 70% and 75% loan to value.
Highlights include a 70% LTV two-year fix with rates from 3.64% for single self-contained properties (EPC A-C), with a 5% initial fee and £299 application fee,
There is also a limited edition 65% LTV five-year fix with rates starting from 4.59% for SSC properties (EPC A-C), also with a 5% initial fee. This product also carries a £150 application fee.
Finally, there is a 75% LTV five-year fix with rates from 5.55% for SSC properties (EPC A-C). This product carries a £3995 fee, and £299 application fee and comes with £750 cashback.
These rates increase by 5bps for properties with an EPC rating of D or E and 25bps for Houses in Multiple Occupation and Multi-Unit Blocks.
All products are available for individual and limited company applications in England, Scotland and Wales.
James Harrison, Product Manager at Paragon Bank, said: “The economic uncertainty surrounding the Budget has largely subsided, helping to bring swap rates down. Passing this on to our customers, we’ve reduced rates across a wide range of buy-to-let mortgages.
“The range refresh sees us offer competitive rates across different fee options and products available at 65%, 70% and 75% LTV. A selection of our products benefit from £750 cashback, with others offering a reduced application fee of £150.”
