• Four new 5-year fixed rate mortgages at 75% LTV
• Reduced rates and fees  
• Products offered with £350 cashback

Paragon Bank has announced the launch of four 5-year fixed rate buy-to-let mortgages, featuring reduced rates and fees, alongside the re-pricing of its Standard Variable Rate (SVR).

The specialist lender is replacing four of its 5-year fixed rate mortgages with new products that feature lower rates and fees and are offered with £350 cashback. The buy-to-let mortgages are available for portfolio landlords - those with four or more mortgaged buy-to-let properties – at up to 75% loan-to-value (LTV).

When borrowed on properties with EPC ratings of A-C rates are priced at 5.20% with a 3.00% fee or 5.40% with a 2.00% fee. On properties rated EPC D or E rates are 5.25% with a 3.00% fee or 5.45% with a 2.00% fee.

Moray Hulme, Director for Mortgage Sales said: “We’re starting the new year by replacing four of our 5-year fixes with mortgages that have lower headline rates as well as reduced fees. Available at up to 75% LTV, these are competitive options for portfolio landlords who are either purchasing in response to strong tenant demand or remortgaging and looking for some certainty.”

Selected products include free mortgage valuations and are available on houses in multiple occupation (HMO), multi-unit blocks (MUB) and single self-contained (SSC) properties.

Paragon has also increased its Standard Variable Rate from 7.85% to 8.35% to reflect the recent rise in the base rate of interest by the Bank of England.

For more information, including ERCs, reversion rates and APRCs please see the product guides available on the Paragon Bank website here.

For media enquiries contact:

Jordan Lott
Media Relations Manager
Paragon Bank
[email protected]

Notes to editors:

Paragon lends to private individuals and limited companies and has 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 introduced its first product aimed at the professional property investor in 1995 and is a member of UK Finance, the Intermediary Mortgage Lenders Association (IMLA), National Landlords Association (NLA) and the Association of Residential Letting Agents (ARLA). 

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 £13 billion of loan assets under management and manages over 450,000 customer accounts.

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ.