Paragon Bank has revamped its range of buy-to-let mortgages, with 20 products reduced by up to 20 basis points (bps).

The mortgages are available up to 75% loan to value (LTV) and feature 3.00%, 5.00%, £2,995 and nil fee options available on products fixed over two and five-year terms.

Rates start at 4.60% on the lender’s two-year fix which is suitable for purchasing or remortgaging properties with EPC rating of A-C. Interest Coverage Ratios (ICRs) are calculated at initial rate plus two percentage points.

Five-year fixes are priced from 5.45%, also for homes rated EPC A-C, increasing by 5bps for properties with lower energy efficiency of EPC D or E. This £2,995 fee product is now available at up to 75% LTV, previously 65%, and for purchasing or remortgaging houses in multiple occupation (HMO) and multi-unit blocks (MUB). A 5.00% product is also available with rates fixed at 4.74% over five years.

ICRs on the five-year fixed rate mortgages are calculated at 5.00% on the products subject to a 5.00% fee and aligned to initial rates on the £2,995 and nil fee options.

The products are available for individual and limited company applications in England, Scotland and Wales, include a free mortgage valuation.

Louisa Sedgwick, managing director for mortgages at Paragon Bank, said: “An improving economic outlook gives us the opportunity to carry out a positive refresh of our range, taking up to 20 bps off 20 products. We’ve also simplified our offering, and borrowers can choose from deals with nil product fees, percentage fees or a flat fee of £2,995.

“This provides some attractive options for landlords, such as our £2,995 fee product, which has no maximum loan cap so is available for loans up to £4m on SSC/HMO/MUB properties. This is a great choice for larger loans and will appeal to a greater proportion of landlord’s now we have raised the LTV to 75%.”