Paragon Bank has expanded its buy-to-let range with a new tranche of 60% loan-to-value products, reflecting continued landlord demand for lower leverage borrowing.

The lender has launched a limited edition range of fixed rate products available over two- and five-year terms, covering both single self-contained properties and more complex assets including houses in multiple occupation and multi-unit blocks.

In total, the range includes six products for single self-contained properties and three for HMOs and MUBs, with pricing starting from 4.35% for green mortgages on properties with EPC ratings between A and C. Rates increase by 5bps for properties with lower energy efficiency ratings.

For landlords financing HMOs and MUBs, rates begin at 4.60%, reflecting the additional complexity typically associated with these asset types.

Borrowers can choose between a 3% product fee or a nil-fee option, allowing flexibility in how upfront costs are structured. The products are available to landlords operating in both personal and limited company structures.

Single self-contained products are offered with no application fee, while HMO and MUB applications incur a £150 fee. Interest coverage ratios are calculated at the initial rate plus two percentage points.

All products are eligible under Paragon’s multi-property proposition, which applies to portfolios ranging from four to 99 properties. This allows landlords to submit a single application across multiple assets, with no application fees and simplified legal requirements, including a single legal advice certificate for the entire portfolio.

James Harrison (pictured), product manager at Paragon Bank, said: “We continue to see demand from landlords who are choosing to borrow at lower LTVs. We’ve responded by extending our 60% LTV offering across SSC, HMO and MUB properties, while giving landlords the flexibility to choose between 3% and nil-fee structures.

“Economic instability fuelled by the war in Iran continues to influence funding costs but we remain responsive to market conditions.

“With swaps plateauing and rates slightly easing recently, we’re able to provide more options for landlords with this keenly priced limited edition range.”