This will apply to mortgages for new borrowers.
For products up to 80% loan to value (LTV), rates start at 3.14% for a two-year fix for a property with an energy performance certificate (EPC) rating of A to C, up to 4.14% for a five-year fix.
Paragon Bank has also added five-year fixed products with 1.5% fixed fees across SCC, houses in multiple occupation (HMO) and multi-unit blocks (MUBs). These are available at 75% LTV with rates starting at 4.9%.
Further, the lender has lowered rates for limited-edition products for SSCs up to 70% LTV with a £500 cashback incentive. The two-year fix with a 4% fee for properties rated A to C starts from 3.2%.
James Harrison, product manager at Paragon Bank, said: “Reducing rates across our whole range of mortgages for SSC properties provides more options for landlords who are still very much active in the market.
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“Additionally, our market analysis has identified the popularity of lower fee products, so we are offering greater choice to assist brokers in matching the right product for each application by adding this additional 1.5% fee option to our five-year fixed range.”
Molo reduces two-year fixed BTL rates
Molo has lowered its two-year fixed BTL rates by up to 0.14% for UK borrowers.
Rates start from 2.54% for a two-year fix, and 4.34% for a five-year fix, available to both individuals and limited companies.
Its specialist product rates, including HMO, MUFB, new builds and holiday lets are unchanged and start from 2.75%.
Its non-UK residents and expat borrower rates also remain the same, starting from 5.84% and 4.75%, respectively.
Martin Sims, distribution director at Molo, said: “Brokers play a critical role in helping landlords secure the right financing. By reducing our rates, we are giving intermediaries stronger options and greater flexibility to support their clients – from first-time investors to seasoned portfolio landlords.”
