Paragon brings in six more B2L products

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Paragon Mortgages is launching six new buy-to-let products and overhauling its product range.

The lender is launching a two-year fixed rate products starting from 3.40 per cent with a 1.50 per cent fee at 65 per cent LTV for single self-contained units.

Paragon is also bringing in a two-year fix at 3.75 per cent with a 1.50 per cent product fee at 65 per cent LTV for HMOs and multi-unit blocks.

The changes take place today.

The  lender is also bringing in three new five-year fixes.

Rates start at 4.20 per cent with a 1.50 per cent product fee at 65 per cent LTV for single self-contained properties – for both individual and limited company landlords.

Paragon Mortgages managing director John Heron says: “We have re-dated our existing product range and then added six new fixed rate products. The product range caters for different types of landlord, whether they be limited companies or individuals.”

The lender has also redated the rates on its stepped rate products launched in March.

Heron says: “The stepped rate products have been created to allow landlords that extra flexibility with their financial planning. With tax liabilities increasing from April 2017, a stepped rate product which moves from a higher rate to a lower rate could help landlords plan for a rise in their tax bill.

“However, intermediaries will need to talk to their landlord customers to ensure they fully understand how these products work and whether they would be suited to their circumstances.”