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Paragon Bank launches five-year fixes

Louisa Sedgwick - 0523 920x518.jpg

  • Rates on five-year fixed rate buy-to-let mortgages starting at 4.89%
  • Available at up to 75% loan-to-value
  • Selected products offered with no application fee and cashback

Paragon Bank has added five-year fixed-rate products to its range of buy-to-let mortgages.

Rates start at 4.89%, available on Paragon’s 5.00% fee option, which is suitable for the purchase or remortgaging of single self-contained (SSC) properties categorised as ‘green’ due to energy performance certification (EPC) of A-C. This increases to 4.94% for homes with lower energy efficiency ratings and 5.14% for Houses in Multiple Occupation (HMO) and Multi-Unit Blocks (MUB). 

The specialist lender is also offering nil fee options, with £750 cashback available on selected mortgages. These are priced from 5.94% for the ‘green’ SSC product, rising by 5bps for standard energy efficiency and to 6.19% for HMO and MUB.

All of the five-year fixed rate products included in the launch have interest coverage ratios (ICRs) calculated in line with initial rates. They are offered at up to 75% loan-to-value (LTV) for landlords applying through limited company structures or in personal name in England, Scotland and Wales.

Louisa Sedgwick, Commercial Director at Paragon Bank, said: “Speaking to both brokers and landlords, we know that many are more positive than they were during last year and we’re already seeing this reflect in business levels.

“This reinforces our belief that landlords want to invest in the sector in response to continued strong levels of tenant demand. We’re aiming to support this by providing landlords with more choice, offering 5% and nil fee products as well as options that include £750 cashback, which can be used to cover legal expenses, for example.”

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
Tel: 0121 712 2319
[email protected]

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 is 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.