Paragon Bank reduces BTL rates by up to 50bps in range refresh – rates now start from 3.64%
11 December 2024
- Rate reductions on two-year and five-year fixed buy-to-let mortgages
- A variety of fee options including 3%, 5%, nil and £3,995
- Available for purchase and remortgage up to 75% loan-to-value
Paragon Bank has refreshed its range of buy-to-let mortgages, reducing rates on selected products by 50bps.
The refresh sees reductions across two-year and five-year fixed rate buy-to-let mortgages, with a choice of nil, 3% and 5% fees, alongside a £3,995 fee product. The products are available for purchase and remortgage with options at 65%, 70% and 75% loan to value (LTV).
Highlights include:
- 70% LTV two-year fix with rates from 3.64% for Single Self Contained (SSC) properties (EPC A-C), 5% initial fee and £299 application fee
- Limited Edition 65% LTV five-year fix with rates from 4.59% for SSC properties (EPC A-C), 5% initial fee and £150 application fee
- 75% LTV five-year fix with rates from 5.55% for SSC properties (EPC A-C), £3995 fee, £299 application fee and £750 cashback
These rates increase by 5bps for properties with an EPC rating of D or E and 25bps for Houses in Multiple Occupation (HMO) and Multi-Unit Blocks (MUB).
All products are available for individual and limited company applications in England, Scotland and Wales.
James Harrison, Product Manager at Paragon Bank, said: “The economic uncertainty surrounding the Budget has largely subsided, helping to bring swap rates down. Passing this on to our customers, we’ve reduced rates across a wide range of buy-to-let mortgages.
“The range refresh sees us offer competitive rates across different fee options and products available at 65%, 70% and 75% LTV. A selection of our products benefit from £750 cashback, with others offering a reduced application fee of £150.”
For more information, including Annual Percentage Rates of Charge (APRC), Interest Coverage Ratios (ICR) and Early Redemption Charges (ERC), please visit the Paragon website here.
