Buy-to-let lender Paragon Bank has brought out limited edition five-year fixed rates for portfolio landlords.
Rates start from 6.45 per cent with a £2,995 fee and is available up to 75 per cent loan to value (LTV) with maximum loan size of £2m.
The other option is 6.54 per cent up to 75 per cent LTV with £995 fee and £500,000 maximum loan.
The products are suitable for portfolio landlords with single self-contained properties that fall into EPC bands A and C, while lower energy efficiency rated properties are five basis points higher.
The lender is also offering a similar mortgage for houses in multiple occupation (HMO) with a £2,995 fee at 6.7 per cent and £995 fee product at 6.79 per cent.
Interest coverage ratios are calculated in line with initial rates and include free valuations. The deals are available to individual landlords and limited company landlords in England, Scotland and Wales.
Louisa Sedgwick, commercial director at Paragon Bank, said: “We’re pleased to bring some new limited-edition products to the market to offer landlords additional choice.
“We know that brokers are looking at different ways to make deals work for their clients, trying to find the best balance between rates, fees and loan amounts, all within affordability constraints.
“For some, such as those borrowing higher amounts up to our new £2m limit, the £2,995 fee mortgage can be a good value option. Likewise, the £995 fee product could be really well suited to landlords who want to borrow up to £500,000.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
