• Two-year fixed rate buy-to-let mortgages rates starting at 4.59%
• Rates reduced across 22 portfolio & non-portfolio products
• Mortgages available for single self-contained properties (SSC), Houses in Multiple Occupation (HMO) and Multi-Unit Blocks (MUB)

Paragon Bank has reduced rates across 22 buy-to-let mortgage products, with fixed deals now starting at 4.59%.

The reductions form part of a product refresh that has seen rates cut across a range of loan-to-value (LTV) bands for both portfolio - those with four or more buy-to-let mortgaged properties - and non-portfolio landlords.

Highlights include a 26bps reduction on Paragon’s 70% LTV two-year fixed rate product, now priced at a market-leading 4.59% This rate is available to portfolio landlords for the purchase or remortgage of single self-contained homes with EPC ratings of A-C. Rates increase to 4.64% on properties banded EPC D or E and 4.84% on HMOs and MUBs. 

The product fee on the two-year fixes is set at 5% and interest coverage ratios (ICR) are calculated at two percentage points above initial rates. 

All products include a free valuation 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: “In this market, landlords want options, so we are pleased to offer these competitive rates with a mix of terms, LTVs and fees.

“With a range of different indicators suggesting that the UK economic outlook is strengthening, the stabilisation of swap rates has continued and, as a result, we’ve been able to again reduce rates on some of our key products. The most exciting of these is our 70% LTV two-year fix with a rate of 4.59%, making it the best-priced product in the market for limited company buy-to-let.”

For more information, including Annual Percentage Rates of Change (APRC) and Early Redemption Charges, please visit the Paragon website here.

For media enquiries contact:

Jordan Lott
Media Relations Manager
Paragon
www.paragonbank.co.uk 

Notes to editors:

Paragon lends to private individuals and limited companies and provides mortgages suitable for single, self-contained properties, as well as HMOs and multi-unit blocks. Paragon can accommodate higher aggregate lending limits and more complex letting arrangements including local authority leases and corporate leases along with standard ASTs.

Paragon Bank PLC a subsidiary of the Paragon Banking Group PLC which is a FTSE 250 company based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group PLC has over £14 billion of assets under management, helping more than 340,000 customers to achieve their ambitions.