Paragon said the limited-edition rates begin from 4.29%, which is the cheapest five-year fixed rate the lender has offered since August 2022.
The deals are aimed at landlords purchasing or remortgaging single self-contained (SSC) properties with an Energy Performance Certificate (EPC) rating between A and C.
Five-year deals are also available for SSC properties with an EPC rating from D to E and houses in multiple occupation (HMOs), with the interest charged at 4.34% and 4.64% respectively.
The BTL products are priced 1% higher for the no-fee versions and are available to landlords operating through limited companies or individuals in England, Scotland and Wales.
The deals have a £150 application fee and 5% interest coverage ratio (ICR).
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James Harrison, Paragon’s mortgages product manager, said: “We’ve launched these limited-edition products to provide landlords with more choice and offer solutions that suit a broader spectrum of customers.
“Offered at a lower LTV of 65%, these products will be particularly appealing to those that can put down a slightly larger deposit to benefit from lower rates.”
He added: “Our expertise means that we’re sometimes seen as an HMO or multi-unit block lender. While it is true that we do have lots of experience in this space and work with established landlords, we also support newer entrants to the market who may be growing their portfolios with more simple propositions, such as single self-contained properties.”
CHL Mortgages brings out free valuation deals and lowers rates
CHL Mortgages has introduced free valuation products and cut rates by up to 0.39%.
The free valuation product is available on selected deals in the CHL1 limited-edition and CH2 large HMO ranges.
CHL1 offers deals for standard BTLs to HMOs and multi-unit freehold blocks (MUFBs) of up to six bedrooms/units.
CHL2 is aimed at landlords with more complex property types such as large HMOs and MUFBs of up to 10 bedrooms or units.
Looking at rate cuts, two-year fixed rates start at 2.35% and five-year fixed rates start from 4.8%.
All products are available to individual and limited company landlords, with LTVs up to 75% and a choice of product fees available.
Darrell Walker, Chetwood Bank’s group sales director for CHL Mortgages for Intermediaries and ModaMortgages, said: “We’re delighted to introduce free valuations on selected products on our CHL1 limited-edition and CHL2 large HMO ranges. We’re particularly excited to be able to offer free valuations on large HMOs – this is fantastic news for landlords who are looking to invest in properties with up to 10 bedrooms.
“The free valuations, combined with the rate reduction across all products and ranges, means we can offer brokers even more choice and ways of supporting their buy-to-let clients to get the products they need.”
