Paragon Mortgages has unveiled a range of fixed-rate mortgage deals available for both buy-to-let purchases and remortgages.
They include a five-year fixed rate at 3.75% with a 1.5% fee for borrowers with 25% equity for single self-contained units, and a five-year fixed rate at 3.85% with a 1.5% product fee, available at 75% Loan To Value (LTV), which is designed for HMOs and multi-unit blocks.
Paragon has also revamped its range of two-year fixed rate deals, such as a two-year fix at 3.20% for lending at 65% LTV.
John Heron, managing director at Paragon Mortgages, said: “Our range of mortgage products is designed with a diverse market in mind, catering for different types of landlords with individual requirements.
“With the tax changes now being phased in, and continued challenges for landlords over the long term, these products support long-term planning and reflect the trend we’ve seen of a preference towards longer term fixed rates.”
New deals and tracker changes at Investec
Meanwhile, Investec Private Banking has launched a range of buy-to-let fixed rate deals across a range of terms, starting at 2.69% for borrowers with 50% equity.
In addition, Investec has linked its tracker deals to its own bank base rate, rather than 3-month LIBOR. Its tracker deals begin at 2.25% over Investec bank base rate (which currently stands at 0.25%) at 50% LTV.
Peter Izard, business development manager at Investec Private Banking, said: “Our proposition is designed to appeal to high net worth borrowers, particularly those looking to acquire rental property in the higher value prime Central London and South East property markets.”
Fee-free Magellan deals
Finally, Magellan has launched a range of deals with no up-front fees which are exclusively available via accredited packagers.
The deals are available across Magellan’s range of complex prime products, which have been designed for borrowers who may struggle to access finance from high street lenders, such as the self-employed. The mortgage products include a free valuation worth up to £600, free legal fees on all remortgages and £450 cashback on purchases.
