Rates on the range now start from 4.59 per cent, which applies to the lender’s two-year fix at 70 per cent loan to value (LTV). This product is available to portfolio landlords for purchase or remortgage against single self-contained (SSC) homes with EPC ratings of A to C.
For properties with an EPC rating of D or E, the rate is 4.64 per cent while the pricing for houses in multiple occupation (HMO) and multi-unit blocks (MUB) is 4.84 per cent.
There is a five per cent product fee and the interest coverage ratio (ICR) is two per cent above the initial rate.
The products are available to individual or limited company landlords in England, Scotland and Wales. A free valuation is also included.
Louisa Sedgwick (pictured), commercial director at Paragon Bank, said: “In this market, landlords want options, so we are pleased to offer these competitive rates with a mix of terms, LTVs and fees.
“With a range of different indicators suggesting that the UK economic outlook is strengthening, the stabilisation of swap rates has continued and, as a result, we’ve been able to again reduce rates on some of our key products. The most exciting of these is our 70 per cent LTV two-year fix with a rate of 4.59 per cent, making it the best-priced product in the market for limited company buy-to-let.”
Vida Homeloans releases limited edition deals
Vida Homeloans has launched a line of limited edition mortgages up to 65 per cent LTV.
This includes two and five-year products within its Vida 36 tier for residential and buy-to-let borrowers. The Vida 36 criteria applies to people who have not had a credit blip in the last 36 months but allows missed unsecured payments of up to £250 in total in the last six months.
The buy-to-let products are available for borrowing against standard properties, HMOs and MUBs with a fixed fee of £4,995.
Rates begin at 6.79 per cent for a two-year fix and 6.44 per cent for a five-year fix.
For the residential offering, rates start at 7.19 per cent for a two-year fix and 6.94 per cent for a five-year fix. There is a £995 fee.
The products are backed by the lender’s service pledge which is a promise to refund the £180 application admin fee if brokers feel the service was not up to standard.
Helen Cawthra, head of intermediary relationships at Vida Homeloans, said: “We are pleased to be able to offer a new range of limited edition products to both landlords and homeowners, providing more options to our intermediary partners and their clients.
