Paragon Bank has announced it is launching a new range of two and five-year fixed rate deals at 70% LTV to strengthen its buy-to-let (BTL) product offering.
The BTL mortgage lender has unveiled eight new 70% LTV products for both portfolio and non-portfolio landlords, across single self-contained (SSC) properties and houses in multiple occupation.
The 70% LTV range is starting from 2.95% for a two-year fixed rate for SSC properties, and all products will be offered with no valuation fee. Paragon added that the products are available for purchase and remortgage, and complement the lender’s existing 75% LTV product offering.
The lender has already been adding to its product range over the past few weeks. At the beginning of May it launched a market-first discounted SVR product to support landlords through the ongoing period of uncertainty.
Paragon director of mortgage sales, Moray Hulme, said: “These new products offer landlords more choice at a time when product availability more broadly has been constrained and will suit landlords with greater levels of equity to invest. Demand remains robust for both new purchase and remortgage activity, despite the current difficult conditions.”
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