Paragon Bank has announced an 11 basis point cut to its two-year fixed rate buy-to-let mortgage range at 75% loan-to-value, with rates now starting from 4.24%.

The revised pricing applies to both purchase and remortgage products and includes options with either nil or 3% product fees.

For single self-contained properties (SSCs) with an EPC rating between A and C, the lowest available rate is 4.24%. Homes with a D or E EPC rating attract a 5 basis point premium, lifting the starting rate to 4.29%.

Landlords financing houses in multiple occupation (HMOs) and multi-unit blocks (MUBs) will see pricing begin at 4.59% with a 3% product fee, or 6.09% if they opt for a nil fee structure.

The HMO and MUB products carry a £299 application fee, while SSC loans come with no application charge. All products offer free mortgage valuations.

The bank has positioned the new rates to appeal to a wide range of professional landlords, offering availability to those operating as individuals or via limited companies across England, Scotland and Wales.

Interest coverage ratios are set using the initial rate plus two percentage points.

Russell Anderson, commercial director of mortgages at Paragon Bank, said: “We’re reducing rates across our 75% LTV two-year fixed-rate product range, improving affordability for landlords.

“From speaking to brokers, we know that two-year deals are a popular option, with some landlords looking to fix now and then reassess the market and their businesses in two years’ time when rates are expected to be lower.”

He added that the refreshed range is “priced competitively” and designed to appeal not only to experienced portfolio landlords, but also those with smaller holdings of up to 15 properties, who may now benefit from a streamlined application process thanks to recent system enhancements.