• Four new limited-edition fixed rate mortgages at 75% LTV
• Products offered with free valuations
• Available for single self-contained properties (SSC), houses in multiple occupation (HMOs) and multi-unit blocks (MUB)

Paragon Bank has announced the launch of four limited-edition five-year fixed rate buy-to-let mortgages.

Rates start at 4.90% when purchasing or remortgaging properties with Energy Performance Certificate (EPC) ratings of A-C, rising to 4.95% on homes with energy efficiency ratings of D or E. These two products incur a 3% fee.

Two further products come with a flat fee of £2,495. Rates are set at 5.25% and 5.30%, with the former for EPC rated A-C homes and the later for properties with (EPC) ratings of D or E.

The four products are offered at up to 75% loan-to-value (LTV), with a maximum loan of £4 million and an Interest Coverage Ratio (ICR) calculation rate of 5.50%. They are available to portfolio landlords - those with four or more buy-to-let mortgaged properties - in England, Scotland and Wales.

Offered with free valuations, the mortgages are suitable for financing the purchase or remortgage of single self-contained properties, HMOs and multi-unit blocks.

Moray Hulme, Director for Mortgage Sales, said: “The launch of these limited-edition products sees us replace four of our five-year fixes with mortgages that feature lower rates.

 “This improves our range of fixed rate products so is good news for portfolio landlords who want some certainty when remortgaging one of their existing properties or purchasing homes in response to what is now sustained strong tenant demand.”

The Annual Percentage Rate of Change (APRC) on the products is 7.10% and each is subject to an application fee of £299.

For media enquiries contact:

Jordan Lott
Media Relations Manager
Paragon
Tel: 0121 712 2319
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.