Paragon Bank has reduced its rates on a series of buy-to-let mortgage products.
The reductions include the 75 per cent LTV five-year fix cut from 3.80 per cent to 3.70 per cent. This deal is for landlords with single self-contained units, has a maximum loan value of £750,000, and a maximum term of 25 years.
The lender has also sliced rates on the 75 per cent LTV five-year fix from 3.90 per cent to 3.75 per cent. This offering is for landlords with houses in multiple occupations or multi-unit blocks, includes a maximum loan value of £750,000, and a maximum term of 25 years.
In addition, both products have free valuations, do not include product fees or application fees, and offer £350 cashback, increased from £250.
Paragon Bank director of mortgages John Heron says: “Interest rates on new mortgage products have rarely been as competitive across the market as they are today.
“By cutting up-front costs and giving landlords flexibility to manage other expenses using cashback, we are demonstrating our commitment to enabling the widest possible access for customers.”