Paragon Bank has expanded its Bank Base Rate tracker buy-to-let mortgage range by introducing switch and further advance products for existing customers.

The new products are designed to give landlords greater flexibility when reviewing existing borrowing arrangements or raising additional funds against their property portfolios.

Switch products are available up to 80% loan-to-value (LTV), while further advances are offered up to 75% LTV. Both are available for single self-contained properties, houses in multiple occupation (HMOs) and multi-unit blocks (MUBs).

For single self-contained properties at 75% LTV, rates start from 5.10%, equivalent to Bank Base Rate plus 1.35%, with a 1.50% fee. An alternative option with a 0.75% fee is available from 5.47%, equivalent to Bank Base Rate plus 1.72%.

For HMOs and MUBs, rates start from 5.45%, equivalent to Bank Base Rate plus 1.70%, with a 1.50% fee. A 0.75% fee option is available from 5.82%, equivalent to Bank Base Rate plus 2.07%.

Paragon has also introduced an 80% LTV switch product in the form of a 12-month tracker with no fee, aimed at landlords seeking higher leverage.

All products are available on a two-year tracker term, apart from the 80% LTV switch option, and carry early repayment charges of 2% in year one and 1% in year two.

James Harrison, mortgages product manager at Paragon Bank, said: “Since launching our Bank Base Rate tracker range, we’ve seen strong engagement from brokers and their landlord clients.

“By introducing switch and further advance options, we’re enabling existing customers to access this tracker product when reviewing their borrowing or raising additional funds.

“This ensures landlords can take a consistent approach across their portfolios, whether they are refinancing or funding further investment.”

Paragon said the changes broaden the availability of its tracker proposition for existing landlord borrowers across a range of property types and borrowing requirements.