Paragon Bank has lowered rates on its range of two-year buy-to-let (BTL) fixed-rate mortgages.

The lender’s BTL range will have rates starting at 3.89% for single self-contained properties with A to C energy performance certificate (EPC) ratings.

For homes with EPC D or E, rates will start from 3.94%.

These are available at 70% loan-to-value (LTV) and come with a 5.00% fee.

For landlords who would like finance at up to 75% LTV, there are two-year fixed-rate products with rates starting at 4.80% and a 3.00% product fee.

A 1.50% fee product is also available, with rates set at 5.55% for the EPC A to C mortgage and 5.60% for EPC D and E.

Landlords financing the purchase or remortgage of houses in multiple occupation (HMOs) or multi-unit blocks (MUBs) are offered the same suite of products, with rates starting at 4.14% at 70% LTV and 5.05% at 75% LTV.

Interest coverage ratios (ICRs) are calculated at initial rate plus two percentage points.

The products are available for individual and limited company applications in England, Scotland and Wales, include a free mortgage valuation and an application fee of £299.

Paragon Bank mortgages commercial director Louisa Sedgwick says: “Since the start of the year, we’ve seen a steady increase in the proportion of landlords looking for two-year fixed-rate products and we have responded by launching these competitive rates, with a range of LTVs and fees, providing landlords with plenty of choice.”