Paragon has updated its buy-to-let mortgage range, offering lower interest rates, no up-front fees and £350 cashback on selected products.

The new range features two and five-year fixed rate mortgages for portfolio landlords and five year fixed rate mortgages for non-portfolio landlords, with products available at up to 80% Loan to Value (LTV).

Interest rate reductions range from 10 to 20 basis points.

Portfolio deals include a five year fixed rate mortgage at 3.70% for landlords with single self-contained units (SSCs) and one at 3.75% for landlords with houses in multiple occupation (HMOs) or multi-unit blocks (MUBs).

In both cases, landlords benefit from no product fee, no application fee, a free mortgage valuation and £350 cashback.

John Heron (pictured), Paragon’s director of mortgages, said: “Interest rates on new mortgage products have rarely been as competitive across the market as they are today. By cutting up-front costs and giving landlords flexibility to manage other expenses using cashback, we’re demonstrating our commitment to enabling the widest possible access for customers.”