Paragon Bank has announced a significant reduction in its two-year fixed-rate buy-to-let (BTL) mortgage offerings, cutting rates by 30 basis points (bps). With rates starting at an attractive 3.34%, this marks the lowest level seen since May 2022, making it a compelling opportunity for landlords and property investors.<\/p>\n
Lower Rates for Buy-to-Let Mortgages<\/p>\n
The newly reduced 3.34% rate is available on loans up to 70% loan-to-value (LTV) for Single Self-Contained (SSC) properties that hold an Energy Performance Certificate (EPC) rating of A-C. These mortgage products come with Interest Coverage Ratios (ICRs) of 5.50% and a 5% fee, making them a competitive option for investors focused on energy-efficient properties.<\/p>\n
For landlords looking for higher LTV options, Paragon is also offering two-year fixed-rate BTL mortgages at up to 75% LTV. The rates for Paragon\u2019s green mortgage begin at 4.34%, while properties with lower EPC ratings (D or E) see a minor increase of 5bps. A no-fee option is available, starting at 5.84%, with ICRs set at two percentage points above the initial rates.<\/p>\n
Options for HMO and MUB Properties<\/p>\n
Landlords investing in Houses in Multiple Occupation (HMO) or Multi-Unit Blocks (MUBs) can also take advantage of Paragon\u2019s new rates. The 5% fee product starts at 3.59%, while the 3% fee option begins at 4.59%. A nil fee mortgage is also available at 6.09%, providing flexibility based on investment preferences.<\/p>\n
Exclusive Benefits for Landlords<\/p>\n
These mortgage products come with a free valuation and a \u00a3299 application fee. Suitable for landlords purchasing or remortgaging properties as individuals or through limited company structures, they are available across England, Scotland, and Wales.<\/p>\n
Paragon Bank\u2019s Take on the Market Shift<\/p>\n
James Harrison, Mortgage Product Manager at Paragon Bank, highlighted the rationale behind these rate reductions:<\/p>\n
\u201cWe\u2019re delighted to lower rates on our two-year fixed mortgages, reducing them by 30bps across the board. With starting rates as low as 3.34%, this is our most competitive offering in almost three years.<\/p>\n
Brokers have indicated a rising demand for two-year fixes, as many landlords prefer the certainty of fixed rates over a short-term period, anticipating more favorable borrowing conditions in the near future. Our latest mortgage products have been tailored to meet this demand and will play a crucial role in supporting investment in the private rental sector.\u201d<\/p>\n
Why This Matters for Landlords<\/p>\n
With interest rates fluctuating, Paragon Bank\u2019s latest mortgage deals provide a valuable opportunity for landlords to secure competitive financing. Whether purchasing or remortgaging, these lower rates can enhance profitability and support investment in energy-efficient properties.<\/p>\n
For landlords seeking the best BTL mortgage options, now is an opportune time to explore Paragon Bank\u2019s latest offerings.<\/p>\n","protected":false},"excerpt":{"rendered":"
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