• Four new fixed rate mortgages at 75% LTV
• Products offered with free valuations and £350 cashback
• Available for single self-contained properties (SSC), houses in multiple occupation (HMOs) and multi-unit blocks (MUB).

Paragon Bank has added four limited edition fixed rate products to its range of buy-to-let mortgages, including two 2-year and two 5-year products, all available at up to 75% loan-to-value.

Rates on the 2-year products start at 4.80% when purchasing or remortgaging homes with EPC ratings of A-C, rising to 4.85% on properties rated EPC D or E. Interest Coverage Ratio (ICR) calculation rates are 6.80% and 6.85% respectively.

Five-year products start at 5.00% on properties rated EPC A-C and increase to 5.05% when financing properties with lower energy efficiency scores of D and E. The ICR is calculated at 5.50% on both 5-year products.

All products are offered with free valuations and £350 cashback, incur a product fee of 3.00% and are available to portfolio landlords with four or more mortgaged buy-to-let properties in England, Scotland and Wales.

Moray Hulme, Director for Mortgage Sales said: “Since we refreshed our product range at the start of the year, we’ve seen a positive response from the market.

“This, along with conversations with brokers and landlords, reinforces our belief that alongside plenty of remortgage business, professional landlords want to continue investing in response to strong demand for rented homes despite a challenging economic environment.

“With the Bank of England increasing the Base Rate last week, we are confident that these products will provide additional options for landlords seeking some certainty.”

The four products are available when purchasing or remortgaging houses in multiple occupation (HMO), multi-unit blocks (MUB) and single self-contained (SSC) properties.

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

For media enquiries contact:

Jordan Lott
Media Relations Manager
Paragon Bank
[email protected]
www.paragonbank.co.uk 

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 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.