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Paragon Bank launches limited-edition buy-to-let range, including nil and flat fee options

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  • Nine new limited edition buy-to-let mortgages, including Green options
  • Zero and flat fee options available
  • Fixed-rate and discounted variable rate products
  • Products for single self-contained properties (SSC) and houses in multiple occupation (HMOs)

Paragon Bank has launched a range of limited edition buy-to-let mortgages, including five-year fixed-rate deals with zero or flat fees and discounted standard variable rates.

Paragon has responded to broker feedback with the nil and flat-fee options to offer landlords more choice. Nil fee five-year fixed rates are available for those purchasing or remortgaging single self-contained (SSC) properties, with rates starting at 6.35%, or HMOs at 6.60%.  

Alternatively, landlords can select a five-year fixed rate with a flat fee of £2,995, with rates starting at 6.05% for SSCs, or 6.30% for HMOs. The five-year fixed-rate deals are available at 65% loan-to-value (LTV) on loans up to £500,000.

Additionally, Paragon has launched three 12-month Discounted SVR rates. These start at 5.50% for SSCs and 5.75% for HMOs and come with a 1.50% fee.

All products include free valuations, no application fees and are available to portfolio landlords - those with four or more buy-to-let mortgaged properties – in England, Scotland and Wales.

Louisa Sedgwick, Commercial Director at Paragon Bank, said: “We’re delighted to launch a range of limited-edition products that we feel provide something a little different to those offered by many of our competitors.

“We’ve listened to brokers who have told us that nil and fixed fee options should appeal to landlords wanting higher loan amounts, up to £500,000, alongside the certainty of fixing rates for five years. In addition, we have 12-month discounted variable rate products that provide competitively priced options for those who want to remain active in the market without committing to a longer term.”

She added: “These deals complement our core range, which includes a mix of lower rates and different fees, in addition to options like our track to fix product. Having the ability to secure a new discounted variable rate and then switch to a Paragon fix at any time during the term offers a mix of flexibility and certainty that may be particularly appealing given the fluidity of the current market.”

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

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.