Paragon Mortgages has announced today that it has launched a new range of stepped five year fixed rate products that can either increase in rate each year until the end of the term, or decrease dependent on the landlordâ€™s preference.
Paragon has also anounced that it has revamped its BTL range which will now cater for individual landlords as well as limited companies.
Highlights of the new range include a two year fixed rate at 3.65% with a 1.50% product fee at 75% LTV and a five year fixed rate at 4.49% with a £995 fee at 75%. Both products are available for single, self-contained properties for individuals and limited companies.
Paragon’s new range of consumer buy-to-let products will also launch this week. Consumer buy-to-let products will be marketed exclusively under Paragon’s Mortgage Trust brand.
John Heron, Director of Mortgages, said: “We know that landlords are looking at how they plan their finances for the future with the recent Government changes due for implementation over the coming months. With this in mind we have completely refreshed our product range and included, for the first time, stepped fixed rate products.”