New fixed rate deals from Paragon

Published on

Paragon Mortgages has refreshed its range of buy-to-let fixed rate mortgage products.

The deal, which are available to individual landlords and limited companies for buy-to-let property purchases and remortgages, include two and five-year fixed rates for single self-contained units, houses in multiple occupation (HMOs) and multi-unit blocks (MUB).

Available from today is a five-year fixed rate at 3.75% with a 1.50% product fee at 75% loan-to-value (LTV) for single self-contained units, and a five-year fixed rate at 3.85% with a 1.50% product fee at 75% LTV for HMOs and MUB. The five-year stepped fixed rate is at 3-4% with a 2% product fee at 75% LTV for each property type.

Interest coverage ratios on these products are unchanged, starting at 125% at 4%, graduated to reflect each landlord’s individual tax status.

Paragon’s range of shorter term, two-year fixed rate products has also been refreshed, with deals including a two-year fix at 3.20% for lending up to 65% LTV and another at 3.30% for lending up to 75% LTV.

John Heron, managing director of Paragon Mortgages, said: “Our range of mortgage products is designed with a diverse market in mind, catering for different types of landlords with individual requirements.

“With the tax changes now being phased in, and continued challenges for landlords over the long term, these products support long term planning and reflect the trend we’ve seen of a preference towards longer term fixed rates.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Newcastle for Intermediaries adds three-year fix range to mortgage offering

Newcastle for Intermediaries has introduced a new range of three-year fixed rate products. It said...

Other news

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Why it matters that bridging hit more than £10bn last year

We see many numbers bandied around in the financial industry, which can sometimes have...