Paragon Bank has reduced rates across its range of buy-to-let mortgages for single self-contained (SSC) properties, in addition to adding 1.50% fee five-year fixed-rate products to the range, amongst other changes.
All buy-to-let mortgages in Paragon’s core range, available for the purchase or remortgage of SSC properties, have been reduced by 15bps for new customers.
Available at up to 80% loan-to-value (LTV), rates now start from 3.14% on two-year fixed products for SSC properties with an EPC ratings of A-C, rising to 4.14% for five-year fixed rates.
Additionally, 1.5% fixed-fee options have been added to the range of five-year fixed rate buy-to-let mortgages across SSC, Houses in Multiple Occupation (HMO) and Multi Unit Blocks (MUBs). Available at 75% LTV, rates on the 1.50% fee product start at 4.90%.
Paragon has also reduced rates across its limited-edition products for SSCs, available at up to 70% LTV and benefiting from £500 cashback. Its two-year fixed 4% fee product now starts from 3.20% for properties with an EPC of A-C.
James Harrison, Product Manager at Paragon Bank, said: “Reducing rates across our whole range of mortgages for SSC properties provides more options for landlords who are still very much active in the market.
“Additionally, our market analysis has identified the popularity of lower fee products, so we are offering greater choice to assist brokers in matching the right product for each application by adding this additional 1.5% fee option to our five-year fixed range.”
