Paragon Mortgages launch lifetime B2L trackers
There are three lifetime trackers for single self-contained properties and three available for multi-unit blocks and HMOs.
John Heron, director of mortgages, said: “The new lifetime tracker products are very competitive and offer something new for landlords who are looking to extend their portfolios.
“These are good value products for the whole term. The market has been somewhat “stuck in a rut” with 2-year fixes and trackers, which may have their place, but high reversion rates may mean that in many cases a good two year rate may not work out well in the longer term.”
Rates start at 4.50%, with a 1.50% product fee for all products, the maximum loan to value is 75%.
The Paragon Mortgages product range also includes a number of 2-year trackers, with rates starting at 4.20%.
There are also six new 2-year fixed rate buy-to-let products available with initial rates of 4.45% – 5.95%. The 5.95% also benefits from no product fee and all fixes are available for a LTV of up to 75%.