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

The Beverley joins Brilliant Solutions mortgage club panel

Beverley Building Society has joined the Brilliant Solutions Mortgage Club lender panel in a...

Together hires strategy chief to support growth plans

Together has appointed Russell Anderson as chief strategy officer as the specialist lender looks...

Zephyr Homeloans launches special edition BTL range with no valuation fees

Zephyr Homeloans has launched a special edition five-year fixed rate buy-to-let range with no...

First-time buyers face pressure as high LTV mortgage choice falls

First-time buyers remain under pressure from reduced mortgage choice and stretched affordability, despite signs...

The Right Mortgage reports Q1 growth across lending and protection

The Right Mortgage & Protection Network has reported year-on-year growth across mortgage lending, protection,...

Latest publication

Other news

The Beverley joins Brilliant Solutions mortgage club panel

Beverley Building Society has joined the Brilliant Solutions Mortgage Club lender panel in a...

Together hires strategy chief to support growth plans

Together has appointed Russell Anderson as chief strategy officer as the specialist lender looks...

Zephyr Homeloans launches special edition BTL range with no valuation fees

Zephyr Homeloans has launched a special edition five-year fixed rate buy-to-let range with no...