Mortgages  

Paragon reprices buy-to-let range

Paragon reprices buy-to-let range

Paragon Mortgages has given its buy-to-let product range a spring clean, catering in particular for individual landlords and limited companies.

This includes trackers and fixed rates for houses of multiple occupancy (HMOs), multi-unit blocks and single, self-contained properties.

Paragon was particularly proud of the two-year fixed rate at 3.65 per cent with a 1.50 per cent product fee at 75 per cent loan-to-value.

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For those looking longer-term, there is a five-year fixed rate at 4.49 per cent with a £995 fee at 75 per cent LTV.

Both products are available for single, self-contained properties for individuals and limited companies.

The refreshed range also includes a first for Paragon, with the release of six stepped fixed rate products.

Designed for landlords who want that extra level of financial planning, the five-year fixed rates can either increase in rate each year until the end of the term, or decrease dependent on the landlord’s preference.

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.

Mark Harris, chief executive of SPF Private Clients, commented: “Paragon’s limited company and HMO products are competitively priced.

“The stepped fix is a bit of a novelty and landlords should see how the average rate and fee compares against a non-stepped version.”

peter.walker@ft.com