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Paragon Bank further reduces five-year fix rates for portfolio landlords

Louisa Sedgwick - 0523 920x518.jpg

  • Five-year fixed rate buy-to-let mortgages, available at up to 75% loan-to-value, starting from 5.60%
  • 5% fee and free valuation
  • Available for portfolio landlords purchasing or remortgaging single self-contained properties (SSCs), houses in multiple occupation (HMOs) and multi-unit blocks (MUBs)

For the second time in two weeks, Paragon Bank has reduced the price of its limited-edition, five-year fixed rate, 5% fee, buy-to-let mortgages.

The specialist lender has taken a further 15bps off the price of its limited-edition five-year fixes that come with a 5% fee. Rates now start at 5.60% for the purchase or remortgage of ‘green’ properties with EPC ratings of A–C, 5.65% for single self-contained properties and 5.85% for HMOs and MUBs.

The buy-to-let mortgages are available at up to 75% loan-to-value (LTV) and interest coverage ratios are calculated at the same rates as initial interest rates. Each of the three mortgages includes a free valuation.

Louisa Sedgwick, Commercial Director at Paragon Bank, said: “We recently reduced rates on our five-year fixes and with the swaps market continuing on its recent run of relative stability, we’re in a position to pass this on to customers, further reducing rates on our 5% fee products.

“This should see us amongst the most competitive five-year fixed rate limited company buy-to-let mortgages with 5% fee or less.

“To reiterate what I said when we launched these now reduced limited-edition products, the fluidity that has characterised the market this year means that lenders sometimes have to respond to abrupt changes so products may not be available for long.” 

The mortgages are available to portfolio landlords - those with four or more buy-to-let mortgaged properties – in England, Scotland and Wales, operating through limited companies or as individuals.

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 Bank

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.