Paragon Bank has cut rates by 15 basis points across its Core and Tailored fixed-rate buy-to-let mortgages.

The reductions cover two-year and five-year fixed-rate mortgages for the purchase or remortgage of single self-contained properties, houses in multiple occupation (HMOs) and multi-unit blocks (MUBs).

The products are available through Paragon’s Core range, with selected options also offered through its Tailored proposition.

At 75% loan-to-value (LTV), two-year fixed rates start at 3.40% on the bank’s Green Mortgage range for single self-contained properties with energy performance certificate (EPC) ratings from A to C.

Equivalent products for properties rated EPC D or E start at 3.45%. Both options have a 5% product fee and include £500 cashback.

For landlords financing HMOs or MUBs, two-year fixed rates at 75% LTV begin at 3.55%, with a 5% product fee and £500 cashback. Alternatives with 3% and no product fee start at 4.55% and 6.05% respectively.

Five-year fixed rates at 75% LTV start at 4.80% for Green Mortgage products, while equivalent mortgages on properties rated EPC D or E are available from 4.85%. These products have a 5% fee and include £1,000 cashback.

Five-year fixed rates for HMOs and MUBs start at 4.95%, also with a 5% fee and £1,000 cashback.

The wider range includes no-fee, percentage-fee and fixed-fee options at 60%, 70%, 75% and 80% LTV.

All products include a free mortgage valuation. There is no application fee on mortgages for single self-contained properties, while products for HMOs and MUBs carry a £299 application fee.

Rates have also been reduced across the Tailored proposition, which supports buy-to-let applications that fall outside the bank’s standard lending criteria.

At 75% LTV, Tailored two-year fixed rates start at 5.15% for Green Mortgage-eligible single self-contained properties and 5.30% for HMOs and MUBs. Five-year fixed rates begin at 5.55% and 5.70% respectively, with the five-year products including £1,000 cashback.

James Harrison, mortgages product manager at Paragon Bank, said: “These reductions provide landlords with lower pricing across a broad selection of two-year and five-year fixed products, covering both standard and more specialist property types.

“The range has been structured to provide a choice of rates and product fee arrangements, including nil-fee, percentage-fee and fixed-fee mortgages.

“Free valuations across the range, alongside no application fee on products for single self-contained properties, also enables brokers to consider the upfront costs as well as the rate and fee structure when discussing requirements with landlord clients.”