Paragon cuts five-year buy-to-let rates by 15bps – Mortgage Strategy

Paragon Bank has cut rates by 15bps across a selection of five-year fixed-rate buy-to-let mortgages.

The cuts apply 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% LTV, some limited edition and Paragon’s Tailored proposition for 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-C.

Equivalent products for properties with lower energy efficiency ratings of D or E are available from 5%. For HMOs and MUBs, rates now start from 5.10%.

Landlords can choose from nil-fee, percentage-fee and fixed-fee options, with selected products also having £1,000 cashback.

Products are available to both individual and limited company landlords in England, Scotland and Wales.

Paragon Bank product manager James Harrison said: “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.

“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.”