Paragon Bank has expanded its buy-to-let offering with the introduction of a limited edition range of two-year fixed-rate mortgages, offering what it describes as market-leading pricing for landlords.

The new products are available from 3.45% for properties with an EPC rating of A to C, subject to a 4.00% product fee, and are offered at up to 70% loan-to-value. The lender has removed the application fee on these products for single self-contained units.

The deals are also supported by £500 cashback on completion and free mortgage valuations.

Interest Coverage Ratios are calculated at 5.5%, and Paragon has made a parallel offering for Houses in Multiple Occupation (HMO) and multi-unit blocks, with rates starting at 3.80% and stressed at 5.80%.

James Harrison, Paragon Bank’s mortgages product manager, said: “With the economy settling a little following recent disruption, swap rates have gradually reduced, enabling us to lower rates for landlord customers.

“It’s fantastic to be able to offer some market-leading rates on two-year fixed deals, which brokers tell us are a popular option currently.

“Removing the application fee on our SSC products and offering cashback and free mortgage valuations also provides landlords with some attractive options.“

Paragon also recently unveiled a streamlined application process for portfolio landlords with up to 15 properties. The process, supported by a new bespoke platform, reduces the amount of supporting documentation required and is designed to cut the time taken to submit applications.

“This week we announced a streamlined process for landlords with up to 15 properties, made possible by the launch of our bespoke mortgage application platform, requesting fewer supporting documents and speeding up application time,” Harrison added.

“It’s a significant change and means a broader spectrum of brokers and landlords are able to benefit from these competitive products.”