Revolutionizing BTL Mortgages: Five-Year Fixed Rates! Paragon Bank has rolled out a new range of buy-to-let mortgages, offering a five-year fixed-rate term with no associated product fees. The competitive rates commence at 5.80%, and selected mortgage products include an enticing £750 cashback. These mortgages are accessible at up to 70% loan-to-value, making them an attractive option for property investors.
Specifically designed for properties with a favorable EPC rating of A, B, or C, Paragon’s green mortgage caters to the purchase or remortgage of single self-contained properties. The rates initiate at 5.80%, providing a cost-effective and environmentally conscious choice. It’s important to note that rates may vary for properties with lower EPC ratings, aligning with Paragon’s commitment to offering tailored solutions to a diverse range of property portfolios.
For landlords navigating the landscape of HMOs and Multi-Unit Blocks, Paragon Bank introduces a compelling offer with rates starting at 6.05%. This competitive option addresses the specific needs of those involved in the purchase or remortgage of properties with multiple units. The interest coverage ratios are meticulously calculated to align with the initial rates, ensuring a transparent and fair evaluation process for landlords seeking financial solutions.
These mortgage products from Paragon Bank extend their appeal to a wide range of applicants, accommodating those operating through limited company structures or in personal names. This inclusive approach covers property transactions in England, Scotland, and Wales, providing a comprehensive solution for landlords across different regions. Whether you’re a seasoned investor or a newcomer to the property market, these mortgage options offer a flexible and accessible avenue for financing your ventures.
Emphasizing the pragmatic advantages of their offerings, Louisa Sedgwick, the commercial director at Paragon Bank, underscores the importance of a fee-free structure. While the initial rates, starting at 5.80%, may not be universally suitable, the absence of product fees enhances the overall appeal. This becomes especially attractive for landlords engaged in transactions involving higher-value properties. Moreover, Paragon Bank introduces a practical incentive with £750 cashback on selected products, providing an additional financial resource that can be strategically utilized for various purposes, including covering legal costs associated with property transactions.
In summary, Paragon Bank’s tailored mortgage solutions cater to the diverse needs of landlords, offering competitive rates, transparent evaluation processes, and a fee-free structure. This comprehensive approach, coupled with practical incentives like cashback, positions Paragon Bank as a reliable partner for landlords navigating the complexities of property investment and financing.
“We are delighted to see swap rates continuing to fall this week, highlighting how an element of stability is returning to the mortgage market, enabling us to adjust our range making our products more attractive to landlords.”
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