Paragon adds four five-year fixes and Molo cuts BTL rates – round-up

  • 18/01/2022
  • 0
Paragon adds four five-year fixes and Molo cuts BTL rates – round-up
Paragon Bank has launched four five-year fixed mortgages within its buy-to-let mortgage range.


These are available at 70 per cent and 75 per cent loan to value (LTV) and are open to portfolio landlords, limited companies or limited liability partnerships. 

For landlords purchasing or remortgaging properties with energy performance certificates (EPC) rated A-C, rates start at 2.95 per cent at 70 per cent LTV and three per cent at 75 per cent LTV.  

For homes which are rated below EPC C, rates are priced at 3.05 per cent at 70 per cent LTV and 3.10 per cent at 75 per cent LTV.  

All the mortgages offer free valuations and £750 cashback, and the £100,000 minimum loan requirement has been removed from some deals.  

The products include an interest coverage ratio (ICR) starting at four per cent and are subject to early repayment charges (ERC) of five per cent in years one and two, four per cent during years three and four and three per cent for year five. 

Moray Hulme (pictured), director for mortgage sales at Paragon, said: “Our recently refreshed product range has proven popular, suggesting that landlords have been actively are modifying their portfolios, whether that be boosting PRS stock through purchasing additional properties or taking advantage of the current low-rate environment to get a good remortgage deal. 

“To support this, we’ve added four new products, again offering preferential rates to incentivise energy efficient properties, and also removed the £100,000 minimum loan on mortgages where percentage product fee is applicable, providing more flexibility for investors.”  



Molo Finance cuts buy-to-let rates by up to 19bps 

Molo Finance has reduced the rates on its buy-to-let mortgages by up to 0.19 per cent, following its launch of mortgages for portfolio landlords and ahead of its entry into residential lending. 

Limited company and houses in multiple occupancy (HMO) five-year fixed rates now start from 2.37 per cent at 75 per cent LTV and 2.95 per cent up to 65 per cent LTV.  

Francesca Carlesi, chief executive of Molo said the cuts came at an important time, adding: “There’s a lot of uncertainty around interest rates at the moment and whether they will be subjected to further increases from the Bank of England.  

“By lowering our rates, buy-to-let investors can feel confident about their next purchase and safeguard themselves against potential volatility over the next five years as they look for value in the property market. 

“Along with these new rates, borrowers can use Molo’s entirely digital application to save time, energy and money.” 

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