These will be available to landlords who are remortgaging or purchasing single self-contained (SSC) properties and houses in multiple occupation (HMOs).
All products will include a free application and free valuations for portfolio landlords in England, Scotland, and Wales. Those purchasing or remortgaging an SSC will have the option of no fee five-year fixed rates starting at 6.35 per cent and HMOs start at 6.6 per cent.
Rates come down to 6.05 per cent for SSCs and 6.3 per cent for HMOs for a five-year fixed rate with a flat fee of £2,995. This is available at 65 per cent loan to value (LTV) with loan sizes up to £500,000.
Also launching are three 12-month discounted standard variable rate (SVR) products from 5.50 per cent for SSCs and 5.75 per cent for HMOs including a 1.50 per cent fee.
Louisa Sedgwick (pictured), commercial director at Paragon Bank, said: “These deals complement our core range, which includes a mix of lower rates and different fees, in addition to options like our track to fix product.
“Having the ability to secure a new discounted variable rate and then switch to a Paragon fix at any time during the term offers a mix of flexibility and certainty that may be particularly appealing given the fluidity of the current market.”
