Paragon Bank has expanded its buy-to-let (BTL) product range by adding new two and five-year fixed rate mortgages to its offering.
The products are available for portfolio landlords, those with four or more mortgaged properties, who are purchasing or remortgaging houses in multiple occupation (HMO), multi-unit blocks (MUB) or single self-contained (SSC) properties.
Paragon confirmed the products will include two five-year options at 70% loan-to-value (LTV) and a two-year deal at 75% LTV, all available for remortgage or purchase. Rates are starting at 5.89% and all products will be offered with free mortgage valuations.
As well as the launch of the new products, Paragon has also removed the early redemption fee on its two-year discounted variable product, currently priced at 4.09%, or 3.99% for properties with an Energy Performance Certificate (EPC) rating of between A and C.
“We are pleased to introduce these fixed rate products to our range, which complements the discounted variable products we launched last week,” said director for mortgage sales, Moray Hulme.
“We think these are attractive products for landlords looking for certainty over the next two or five years. We have also removed the early redemption fee from our two-year discounted variable product, which gives landlords the ability to switch onto a fixed-rate if they need to.”
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