Paragon Mortgages has launched a range of new three-year fixed deals especially designed for professional landlords.
The specialist buy-to-let lender is offering customers three-year fixed rate mortgages at up to 75 per cent loan-to-value (LTV) and rates of 3.99 per cent for single, self-contained properties and of 4.45 per cent for houses in multiple occupation (HMOs) and multi-unit blocks. Both products have 2 per cent product fee.
Along with the launch of the new three-year fixed range, Paragon has refreshed its two-year and five-year fixed deals. The two-year fixes have been re-dated to 30 September 2017 and the five-year deals – to 30 September 2020. Rates start from 3.75 per cent for the two-year products and from 4.6 per cent for the mortgages fixed for five years.
John Heron, director of Paragon Mortgages, commented:
“Our new range of three year fixed rate products are very competitive and designed to meet the needs of more experienced landlords with larger property portfolios. The new range, along with our fixed rates for two and five years, best suit landlords looking to plan financially for the slightly longer-term. Our latest intermediary trends survey shows that their landlord clients are still preferring to fix and the growth in popularity of five year fixes remains.
“Our range now includes 14 competitive and tailored fixed rate products in addition to the tracker rates available for a variety of terms for those landlords who require a little more flexibility. We have worked hard to ensure that our new summer range has something to meet a breadth of professional landlords’ requirements as demand from tenants remains high.”
