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Paragon cuts rates on 20 BTL products

Jake Carter

January 10, 2022

cut rates btl

Paragon has reduced rates across 20 offerings within its buy-to-let (BTL) product range.

With rates starting at 2.85%, the specialist lender is offering a selection of 2 and 5-year fixed rate BTL mortgages.

The products are available between 60% and 80% loan-to-value (LTV) on both purchases and remortgages.

Notable reductions include the 70% LTV 2-year fix cut from 2.95% to 2.85%, the 75% LTV 5-year fix from 3.20% to 3.13%, and the 75% LTV 2-year fix from 3.05% to 3%.

The first two deals are for portfolio landlords, while the latter is for non-portfolio landlords only.

Zero product and application fees, as well as free mortgage valuations, are offered on selected products.

Portfolio landlords – those with four or more mortgaged properties – can access finance for single self-contained properties (SSCs) starting at 60% LTV, houses in multiple occupation (HMOs) and multi-unit blocks (MUBs).

The mortgages are available for individual landlords as well as those operating as limited companies or limited liability partnerships.

The non-portfolio range is available to consumer BTL customers on SSCs, including holiday lets.

All 5-year products include an interest coverage ratio (ICR) starting at 4.00% and are subject to early repayment charges (ERCs) of 5% in years one and two, 4% during years three and four and 3% for year five.

Moray Hulme, director for mortgage sales at Paragon, said: “The high levels of demand for rented homes seen throughout last year looks set to continue into 2022 so landlords will be looking to respond and make an active start to the year.

“We’ve refreshed our buy-to-let product ranges, offering lots of different options for both portfolio and non-portfolio landlords who are modifying their portfolios, and reducing rates across the range.

“To help to incentivise bringing more energy efficient properties into the private rented sector we’re also offering preferential rates on properties with Energy Performance Certificates rated A – C.”


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