Paragon Bank unveils £750 cashback option

Published on

Paragon Bank has revised its range of five-year fixed-rate buy-to-let mortgages with new 3% fee options and £750 cashback added to all five-year purchase and remortgage fixed-rate products.

The addition of 3% fee products to Paragon’s range of five-year fixes means that the bank now offers 3%, 5% and nil fee options at up to 75% loan to value (LTV).

Rates for the 3% fee product start at 5.14% for properties with EPC ratings of A-C, rising to 5.39% for Houses in Multiple Occupation and Multi-Unit Blocks. Interest Coverage Ratios (ICRs) are calculated at the product rate.

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

James Harrison, mortgages product manager at Paragon Bank, said: “After listening to brokers, we’ve introduced £750 cashback to our purchase and remortgage five-year fixes, helping to offset application or legal fees.

“We’re also responding to changes in the market – as interest rates have started to reduce, products with lower fees have become more popular. Therefore, we’ve added a 3% product fee option to complement our nil fee and 5% fee five-year fixed-rate range.”

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

Mortgage marathon mania sweeps the Capital

The 2025 London Marathon made history yesterday - setting a new world record for...

Five-year frenzy: Brokers urged to act as fixed-rate terms end

Mortgage brokers are being urged to step up their client engagement strategies as a...

The Mortgage Soup view: Challenges and opportunities for brokers

One of the biggest focal points for brokers this year is the sheer volume...

Dividend growth could be boost for mortgage sector

Despite a 4.6% fall in UK company dividends during the first quarter of 2025...

Other news

What, me? Standing out in a crowded market

The mortgage market is changing. It’s more competitive, more complex and more client-focused than...

Mortgage marathon mania sweeps the Capital

The 2025 London Marathon made history yesterday - setting a new world record for...

Food for thought for those not selling mortgage protection

Networks have told me that only one-in-four mortgages arranged are safeguarded by mortgage protection...
Advertisement