5 year fixed rate Paragon mortgages from 5.25% with ZERO arrangement fee

5 year fixed rate Paragon mortgages from 5.25% with ZERO arrangement fee

14:07 PM, 11th January 2024, About 3 months ago

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Paragon Bank has cut rates on five-year fixed-rate buy-to-let mortgages by up to 0.7%, reduced its reference rate and also made changes to minimum and maximum loan term criteria.

The new rates WITH NO ARRANGEMENT FEE include:

Green 5.25% Nil
All EPC’s 5.30% Nil
Green with £750 Cashback 5.34% Nil
All EPC’s with £750 cashback 5.39% Nil

Other products, including fee-charging deals:

Paragon says its five-year fixes have been reduced to 4.50% from 5.20% for purchase or remortgage single self-contained properties, which come with a 5% fee.

For homes with an energy performance certificate rating of A to C, the rate is reduced to 4.45%, while houses in multiple occupation and multi-unit blocks can be mortgaged at 4.70%.

It has also extended its maximum loan term from 25 to 35 years. HMO owners now only need 2 years of experience as BTL landlords

Paragon’s mortgage products are available at up to 75% LTV for landlords applying through limited company structures or in personal name in England, Scotland and Wales.

Paragon Bank commercial director Louisa Sedgwick says: “It’s great to get the year off to a positive start by taking up to 70bps off our 75% LTV five-year fixed-rate mortgages.

“With a mix of 5% and nil-fee options, some with £750 cashback, we’re aiming to offer products that work for more landlords. Additionally, we have eased some of our criteria across the maximum loan term and minimum experience for houses in multiple occupation and multi-unit block applications.”

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