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Paragon releases limited edition five-year fixes
Buy-to-let specialist lender Paragon has released four limited edition five-year fixed rate deals to offer “certainty” for portfolio landlords when remortgaging.
Pricing starts at 4.9 per cent and is available for purchase or remortgage for properties with an EPC rating between A and C.
This rises to 4.95 per cent for homes with an EPC rating of D or E. Both these products come with a three per cent fee.
The other two products come with a fee of £2,495. Rates for the deals are set at 5.25 per cent for properties with an EPC rating between A and C and 5.3 per cent for homes EPC-rated D or E.
The deals have a maximum loan to value (LTV) of 75 per cent and a maximum loan of £4m.
The interest coverage ratio (ICR) is 5.5 per cent and the deals are available for portfolio landlords with four or more buy-to-let mortgaged properties.
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The deals also come with free valuations and can be used for single self-contained properties, houses in multiple occupation and multi-unit blocks.
Moray Hulme (pictured), director for mortgage sales at Paragon, said: “The launch of these limited edition products sees us replace four of our five-year fixes with mortgages that feature lower rates.
“This improves our range of fixed rate products so is good news for portfolio landlords who want some certainty when remortgaging one of their existing properties or purchasing homes in response to what is now sustained strong tenant demand.”