Paragon launches fixed rate range for BTL purchase and remortgage

Paragon Mortgages has launched a range of fixed rate buy-to-let purchase and remortgage loans.

The lender’s new five year fixed rate loans include rates of 3.75 per cent for landlords borrowing up to 75 per cent LTV.

John Heron

(Pictured: John Heron)

These products also have interest coverage ratios that start at 125 per cent at 4 per cent and are graduated to each landlord’s tax status.

The range also includes a two year fix at 3.25 per cent for lending up to 65 per cent LTV and another at 3.40 per cent for lending up to 75 per cent LTV.

Paragon Mortgages managing director John Heron says: “The first quarter is an extremely busy time in the buy-to-let market as landlords review their portfolios and plan for the year ahead.

“The tax changes being introduced in April make it more important than ever for landlords to think ahead and minimise costs where possible.

“These products offer landlords the opportunity to put in place longer term mortgage finance, whilst taking advantage of the beneficial impact of today’s record low market rates.”