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LendInvest cuts BTL rates to 4.54 per cent; Paragon reduces portfolio mortgage pricing – round-up

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  • 02/08/2023
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LendInvest cuts BTL rates to 4.54 per cent; Paragon reduces portfolio mortgage pricing – round-up
LendInvest has cut rates across its buy-to-let mortgage range with pricing now starting from 4.54 per cent.

The headline rate applies to its two-year fixed deal at 75 per cent loan to value (LTV) for energy efficient properties, of 4.59 per cent for standard properties. This option has a seven per cent product fee. 

With a five per cent product fee, the respective rates are 5.54 per cent and 5.59 per cent. 

The corresponding five-year fixes with a seven per cent product fee have a rate of 5.19 per cent for green properties and 5.24 per cent for standard properties. With a five per cent fee, the rates are 5.74 per cent and 5.79 per cent respectively. 

Sophie Mitchell-Charman (pictured), commercial director at LendInvest, said: “With this enhanced buy-to-let mortgage range, we aim to improve accessibility, and empower landlords to seize opportunities and navigate the market with confidence.  

“Our commitment to providing competitive rates and flexible options is a testament to our unwavering support for our clients’ success.” 

 

Paragon reduces five-year fixed rates 

Paragon Bank has lowered five-year fixed rates for portfolio landlords to start from 5.6 per cent. 

These are available at 75 per cent LTV, have a five per cent fee and offer a free valuation. 

The products are eligible for purchase or remortgages against single self-contained (SSC) properties, houses in multiple occupation (HMO) and multi-unit blocks (MUBs). 

The rate of the limited edition deal is 5.6 per cent for green properties, 5.65 per cent for SSCs and 5.85 per cent for HMOs and MUBs. 

Louisa Sedgwick, commercial director at Paragon Bank, said: “We recently reduced rates on our five-year fixes and with the swaps market continuing on its recent run of relative stability, we’re in a position to pass this on to customers, further reducing rates on our five per cent fee products.   

“This should see us amongst the most competitive five-year fixed rate limited company buy-to-let mortgages with five per cent fee or less.”  

She added: “To reiterate what I said when we launched these now reduced limited-edition products, the fluidity that has characterised the market this year means that lenders sometimes have to respond to abrupt changes so products may not be available for long.”   

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