Paragon Bank has rolled out a range of mortgage offers specifically designed for those looking to invest in the buy-to-let sector. With reductions reaching up to 35 basis points and the introduction of their lowest rates in over a year and a half, Paragon is making waves in the mortgage market.
Paragon Bank’s latest campaign introduces an array of two-year fixed-rate mortgages that are not just competitive but come with the promise of stability in an uncertain economic landscape. These offers are crafted to cater to a broad spectrum of landlords, whether they manage a single property or a burgeoning portfolio.
Portfolio and Non-Portfolio Landlords Welcome
The offers extend to both portfolio and non-portfolio landlords, indicating Paragon’s commitment to providing flexible financial solutions across the board. Investors can take advantage of these deals through various structures, including limited company setups or personal ownership, in England, Scotland, and Wales. This inclusivity ensures that a wide range of landlords can find a mortgage deal that suits their investment strategy and property type.
The Lowest Rates in 18 Months
Louisa Sedgwick, Paragon’s Commercial Director, shared an optimistic view of the current economic direction, highlighting the decreasing rates as a positive sign for investors. Recognising the shifting preferences towards short-term stability, Paragon has tailored its offers to meet this demand. “We’re offering our lowest rate on two-year fixes for new customers in over 18 months,” Sedgwick stated, underlining the bank’s initiative to support its landlord customers during these fluctuating times.
Unpacking Paragon’s Buy-to-Let Mortgage Deals
Paragon’s strategy focuses on providing competitive rates that are directly tied to the environmental performance and the property type. Here’s a closer look at the key features of their latest offers:
- For Portfolio Landlords: A standout product is the two-year fixed-rate mortgage starting at 3.94% for single self-contained (SSC) properties with A-C energy performance certificate (EPC) ratings. The rates slightly increase for properties with lower EPC ratings and for those classified as houses in multiple occupation (HMOs) or multi-unit blocks. This particular offer comes with a 5% fee and represents the lowest two-year fixed rate from Paragon in the last 18 months.
- Expansive Reach for Various Properties: Additional products are available for properties with a 75% loan-to-value (LTV) ratio, offering two-year fixed rates starting at 4.85% for green properties. The rates adjust based on the property’s EPC rating and type, with specific deals also available for non-portfolio landlords.
- Reduced Fees: Highlighting its commitment to affordability, Paragon has reduced the fees on certain products by 35 basis points, making these deals even more attractive to investors.