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Paragon brings out two and five-year deals

Anna Sagar
Written By:
Posted:
February 6, 2023
Updated:
February 6, 2023

The buy-to-let lender has brought our four fixed rate deals at 75 per cent loan to value (LTV) to cater for professional landlord demand.

This includes a duo of two-year fixed rates, with one deal pricing at 4.8 per cent when buying or remortgaging a property with an Energy Performance Certificate (EPC) from A to C.

Its two-year fixed rate for properties rated EPC D or E is priced at 4.85 per cent.

The Interest Coverage Ratio (ICR) rates are 6.8 per cent for the EPC A to C deal and 6.85 per cent for EPC D or E product.

Five-year fixed rates for properties with EPC A to C come to five per cent and 5.05 per cent for those lower energy efficiency scores of D and E.

The ICR is 5.5 per cent for both five-year fixed rate deals.

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All products come with free valuations, £350 cashback and a product fee of three per cent.

They are available to portfolio landlords with four or more mortgaged buy-to-let properties in England, Scotland and Wales.

Houses in multiple occupation, multi-unit blocks and single self-contained properties are also eligible.

 

Paragon: ‘Positive response from the market’

Moray Hulme (pictured), director for mortgage sales at Paragon, said: “Since we refreshed our product range at the start of the year, we’ve seen a positive response from the market.

“This, along with conversations with brokers and landlords, reinforces our belief that alongside plenty of remortgage business, professional landlords want to continue investing in response to strong demand for rented homes despite a challenging economic environment.

“With the Bank of England increasing the base rate last week, we are confident that these products will provide additional options for landlords seeking some certainty.”