Paragon has refreshed its buy-to-let switch and further advance product range for portfolio and non-portfolio landlords.
It has now added a range of two- and five-year fixes available at 75% and 80% LTV for individuals, limited companies and limited liability partnerships. Additionally Paragon has increased procuration fees on switch products from 0.25% to 0.30%. Further advance proc fees remain at 0.50%.
John Heron, managing director – mortgages at Paragon, said: “This is a significant refresh of our portfolio and non-portfolio buy-to-let mortgage product range, designed to extend the choice and flexibility for landlords with portfolios varying in size and complexity.
“The competitive rates we offer, alongside fee-free products and our specialist underwriting capability, makes Paragon one of the first choices for portfolio and non-portfolio landlords.
“We also understand the valuable contribution our intermediary partners make in ensuring the right products are delivered to the right customers.
“Where a broker recommends a Paragon switch product and is proactively engaged in the process, we believe that it is appropriate that the intermediary is rewarded, which is why we’ve increased proc fees to 0.30%.”
For SSC units at 75% LTV, highlights from the refreshed portfolio switch product range include a two-year fixed rate mortgage at 3.55% with a 0.50% product fee and a five-year fixed rate mortgage at 3.80% with a nil product fee.
For MUBs and HMOs at 75% LTV, the refreshed portfolio range includes a two-year fixed rate mortgage at 3.65% with a 0.50% product fee and a five-year fixed rate mortgage at 3.90% with a nil product fee.
In the new portfolio further advance product range, highlights include a 75% LTV two-year fixed rate mortgage at 3.35% with a 0.25% product fee for SSCs, and an 80% 5-year fixed rate mortgage at 3.85% with a 0.50% product fee for MUBs and HMOs. Each of the portfolio further advance products comes no application fee.
For non-portfolio landlords, new switch options include two- and five-year fixed mortgages starting from 2.85% on loans up to 75% LTV with a 1.00% product fee, and at 3.50% on loans up to 80% LTV with a nil fee.
The refreshed non-portfolio further advance products include a 75% LTV two-year fixed rate mortgage at 3.30% with a 0.25% product fee and, at 80% LTV, a five-year fixed rate mortgage at 3.70% with a 0.50% product fee.