Paragon Mortgages has introduced six “stepped fixed rate” products that allow landlords to fix at increasing or decreasing annual rates over a five year term.
Paragon Mortgages has introduced six “stepped fixed rate” products that allow landlords to fix at increasing or decreasing annual rates over a five year term.
The new product comes as part of a wider buy-to-let product refresh for both individual landlords and limited companies.
The full product range includes trackers and fixed rates for HMOs, multi-unit blocks and single, self-contained properties.
Highlights of the new range include a 2-year fixed rate at 3.65% with a 1.5% product fee at 75% loan-to-value and a 5-year fixed rate at 4.49% with a £995 fee at 75% LTV.
Both products are available for single, self-contained properties for individuals and limited companies.
John Heron, director of mortgages at Paragon, said: “We know that landlords are looking at how they plan their finances for the future with the recent government changes due for implementation over the coming months.
“With this in mind we have completely refreshed our product range and included, for the first time, stepped fixed rate products.”
Paragon’s new range of consumer buy-to-let products will also launch this week.
Consumer buy-to-let products will be marketed exclusively under Paragon’s Mortgage Trust brand.
