Paragon Bank unveils limited-edition five-year fixes

Published on

Paragon Bank has added to its range of buy-to-let mortgages for portfolio landlords, launching limited edition five-year fixed rate products with rates starting at 6.45% and fixed fees from £995.

Rates on the five-year fixed rate mortgages, available at up to 75% loan-to-value (LTV), are priced at 6.45% with a £2,995 fee and maximum loan size of £2 million or 6.54% with a £995 fee and £500,000 maximum loan.

The products are suitable for portfolio landlords financing single self-contained properties that fall into EPC bands A-C, while rates for homes with lower energy efficiency ratings are priced 5bps higher.

Paragon is also offering similar mortgages for HMOs, with the £2995 fee option priced at 6.70% and rates on the £995 fee product set at 6.79%.

Interest Coverage Ratios (ICR) are calculated in line with initial rates. All products include free valuations and are available to landlords operating as individuals or through limited companies in England, Scotland and Wales.

Louisa Sedgwick (pictured), commercial director at Paragon Bank, said: “We’re pleased to bring some new limited-edition products to the market to offer landlords additional choice.

“We know that brokers are looking at different ways to make deals work for their clients, trying to find the best balance between rates, fees and loan amounts, all within affordability constraints.

“For some, such as those borrowing higher amounts up to our new £2 million limit, the £2995 fee mortgage can be a good value option. Likewise, the £995 fee product could be really well suited to landlords who want to borrow up to £500k.”

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

Twenty7tec adds more than 90 users to advice CRM in Q1

Twenty7tec has onboarded more than 90 users across 15 firms to its ADVICE CRM...

Offa expands home finance team as Islamic lender builds on product growth

Offa has strengthened its home finance division with four new hires as it looks...

Higher mortgage rates hit buyer demand

Higher mortgage rates and ongoing geopolitical uncertainty continue to weigh heavily on the UK...

Making children’s cover part of the mortgage conversation

Seeing a child unwell can often change how we feel, especially if you are...

Beyond the walk: Mortgage leaders talk mental health – part 13

The Mortgage Industry Mental Health Charter (MIMHC) began its third annual 144-mile Walk &...

Latest publication

Other news

Twenty7tec adds more than 90 users to advice CRM in Q1

Twenty7tec has onboarded more than 90 users across 15 firms to its ADVICE CRM...

Offa expands home finance team as Islamic lender builds on product growth

Offa has strengthened its home finance division with four new hires as it looks...

Higher mortgage rates hit buyer demand

Higher mortgage rates and ongoing geopolitical uncertainty continue to weigh heavily on the UK...