The limited-edition two-year fixed rates are priced from 3.45% for properties with an Energy Performance Certificate (EPC) rating between A and C, Paragon says.
The firm said the deal comes with 4% product fee and is available up to 70% loan to value (LTV) for purchase or remortgage single self-contained properties.
Paragon has also removed the application fee and the interest coverage ratio is calculated at 5.5%.
There is an equivalent deal for purchase and remortgage for houses in multiple occupation (HMOs) and multi-unit blocks (MUBs), with pricing beginning from 3.8% and stressed at 5.8%.
Customers can benefit from £500 cashback on completion, as well as free mortgage valuations.
Grasping the next buy to let opportunities
Sponsored by Aldermore
James Harrison (pictured), Paragon Bank’s mortgages product manager, said: “With the economy settling a little following recent disruption, swap rates have gradually reduced, enabling us to lower rates for landlord customers.
“It’s fantastic to be able to offer some market-leading rates on two-year fixed deals, which brokers tell us are a popular option currently. Removing the application fee on our SSC products and offering cashback and free mortgage valuations also provides landlords with some attractive options.”
Harrison added: “This week, we announced a streamlined process for landlords with up to 15 properties, made possible by the launch of our bespoke mortgage application platform, requesting fewer supporting documents and speeding up application time. It’s a significant change and means a broader spectrum of brokers and landlords are able to benefit from these competitive products.”
Paragon unveiled its streamlined buy-to-let (BTL) mortgage application journey earlier this week for landlords with up to 15 properties by lowering document requirements and speeding up the process.
