Paragon Bank has launched three limited edition five-year fixed-rate buy-to-let (BTL) mortgages, which are available at up to 65% LTV. Rates start at 5.35% for five years for landlords purchasing single self-contained properties with EPC rating of A-C. This deal increases by 5bps to 5.4% for properties with energy ratings of D or E. Interest coverage ratings are calculated at 5.5% on both products. The lender has also added a 65% LTV, five-year fixed rate option for HMO and MUBs at 5.6%. The limited edition BTL mortgages come with a 5% fee and are available for portfolio landlords with four or more mortgaged BTL properties.

The Nottingham Building Society has made several updates to its mortgage products which are designed to support both residential and BTL mortgage applicants. The society has launched a new first-time buyer product, which allows prospective buyers to get on the property ladder with a 10% deposit. BTL fees have also been dropped by up to £1,500, with a new five-year fixed BTL option launched at £999. There has also been changes to limited company BTL products, where rates have also been reduced alongside a reduction in fees.

TSB has cut its rates on selected residential mortgages by up to 60bps. The changes to these products follows the change to the BoE’s base rate, which saw a rise of 25bps to 5.25%, in an attempt to battle inflation and bring it down towards its 2% target. The lender has announced that five-year fixed house purchase rates will be reduced by up to 60bps, with three-year fixed house purchase rates are up to 75% LTV, reducing by 10bps. TSB is not the only lender to reduce rates in recent weeks, with Halifax, Nationwide, HSBC and NatWest also announcing changes to their product rates.

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