Paragon Bank has reduced rates on four of its 80% and 75% loan to value (LTV) five year fixed-rate buy-to-let mortgages.
The reductions across 80% LTV products include:
- Five year fixed-rate reduced to 3.95% from 4.09%
- Five year fixed-rate 80% LTV green mortgage (available for EPC A-C properties) reduced to 3.85% from 3.99%
Both of these products incur nil product fee and include a free valuation and £350 cashback.
The reductions across 75% LTV products include:
- Five year fixed-rate reduced to 3.15% from 3.35%
- Five year fixed-rate green mortgage (available for EPC A-C properties) reduced to 3.05% from 3.25%
Product fees for the 75% LTV deals are charged at £1,995 and both products feature free valuations, no application fees and £750 cashback.
The products, for professional buy-to-let landlords with four or more mortgaged buy-to-let properties, are available for those operating as limited companies or individuals. They are suitable for financing houses in multiple occupation (HMOs), single self-contained units (SSCs) and multi-unit blocks (MUBs) as well as holiday let properties.
Moray Hulme (pictured), Paragon Bank’s mortgage sales director, said: “Landlords are looking to add to portfolios to satisfy growing levels of tenant demand. We have re-priced some of our rates to provide investors with some competitive mortgages at 75% and 80% LTV.”