Paragon refreshes rates
The latest 3-year fixed rates are available up to 75% loan-to-value at 3.99% for single, self-contained properties and 4.45% for HMOs and multi-unit blocks – both are offered with a 2% product fee.
The new 3-year fixed rate products are an addition to the existing range of 2-year and 5-year fixed rate offerings that have been redated to 30 September 2017 and 2020 respectively. Rates start from 3.75% for the 2-year products and from 4.60% for the 5-year fixes.
John Heron, director of Paragon Mortgages, said: “Our new range is competitive and designed to meet the needs of more experienced landlords with larger property portfolios and will best suit landlords looking to plan financially for the slightly longer-term.
“Our latest intermediary trends survey shows that their landlord clients are still preferring to fix and the growth in popularity of 5-year fixes remains.
“Our range now includes 14 competitive and tailored fixed rate products in addition to the tracker rates available for a variety of terms for those landlords who require a little more flexibility.
“We have worked hard to ensure that our new summer range has something to meet a breadth of professional landlords’ requirements as demand from tenants remains high.”