Paragon Bank has launched four new five-year fixed rate buy-to-let (BTL) mortgages and increased its standard variable rate (SVR).
Aimed at portfolio landlords, the new fixes are all available at up to 75% LTV and come with £350 cashback.
For properties with an energy performance certificate rating of between A and C, rates start at 5.20% with a 3% fee or 5.40% with a 2% fee.
For properties rated D to E, rates begin at 5.25% with a 3% fee or 5.45% with a 2% fee.
The lender’s SVR has gone up 50 basis points, to 8.35%.
Paragon director for mortgage sales Moray Hulme says: “We’re starting the new year by replacing four of our five-year fixes with mortgages that have lower headline rates as well as reduced fees… these are competitive options for portfolio landlords who are either purchasing in response to strong tenant demand or remortgaging and looking for some certainty.”
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