Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

Paragon Reduces Five-Year Buy-to-Let Mortgage Rates by 15bps

Paragon Bank has announced a 15 basis point reduction across a selection of its five-year fixed-rate buy-to-let mortgage products. The rate cuts apply to landlords purchasing or remortgaging single self-contained properties (SSCs), houses in multiple occupation (HMOs), and multi-unit blocks (MUBs).

The updated product range includes mortgages at 60%, 70%, 75%, and 80% loan-to-value (LTV), with some limited edition options and Paragon’s Tailored proposition for buy-to-let applications that fall outside standard lending criteria. For SSCs, rates now start from 4.95% on Paragon’s green mortgage range, which is available for properties with EPC ratings of A-C. Equivalent products for properties with EPC ratings of D or E are available from 5%.

For HMOs and MUBs, rates now start from 5.10%. Landlords can select from nil-fee, percentage-fee, and fixed-fee options, with selected products offering £1,000 cashback. The products are available to both individual and limited company landlords in England, Scotland, and Wales.

These changes may be relevant to letting agents and inventory clerks working with landlords who are considering new buy-to-let mortgage options or remortgaging existing properties.