Paragon Bank has reduced rates by 15 basis points across a selection of five-year fixed-rate buy-to-let mortgages for landlords purchasing or remortgaging single self-contained properties (SSCs), houses in multiple occupation (HMOs) and multi-unit blocks (MUBs).
The refreshed range includes products at 60%, 70%, 75% and 80% loan-to-value (LTV), some of them limited edition, and extends to Paragon's Tailored proposition, which is designed to support buy-to-let applications that fall outside standard lending criteria.
Within the SSC range, rates now start from 4.95% on Paragon's green mortgage range, available on properties with EPC ratings of A to C. Equivalent products for properties with lower energy efficiency ratings of D or E are available from 5.00%. Rates for HMOs and MUBs now start from 5.10%.
Landlords choosing from the refreshed range can select from nil-fee, percentage-fee and fixed-fee options, with selected products also benefiting from £1,000 cashback. Products are available to both individual and limited company landlords in England, Scotland and Wales.
"We've seen swap rates cool a little in recent days and have moved quickly to reflect those changes across a selection of products within our buy-to-let range," said James Harrison, product manager at Paragon Bank (pictured).
"These reductions ensure landlords are able to benefit from the recent movement in market pricing, while giving brokers additional options when discussing borrowing requirements with their clients.
"Applying the reductions across a broad selection of products enables brokers to match borrowing requirements with the most suitable option for their clients, whether that's driven by headline rate, fee structure, leverage or the type of property being financed."
