Paragon Bank has refreshed its range of buy-to-let mortgages, with 20 products reduced by up to 20bps. Highlights include:

Paragon Bank’s refreshed range of buy-to-let mortgages is offered at up to 75% loan-to-value (LTV) and features 3%, 5%, £2,995 and nil fee options available on products fixed over two and five-year terms.

Rates start at 4.60% on the lender’s two-year fix which is suitable for purchasing or remortgaging properties with EPC rating of A-C. Interest Coverage Ratios (ICRs) are calculated at initial rate plus two percentage points.

Five-year fixes are priced from 5.45%, also for homes rated EPC A-C, increasing by 5bps for properties with lower energy efficiency of EPC D or E. This £2,995 fee product is now available at up to 75% LTV, previously 65%, and for purchasing or remortgaging houses in multiple occupation (HMO) and multi-unit blocks (MUB). A 5% product is also available with rates fixed at 4.74% over five years.

ICRs on the five-year fixed rate mortgages are calculated at 5% on the products subject to a 5% fee and aligned to initial rates on the £2,995 and nil fee options.

The products are available for individual and limited company applications.

Commenting on the range changes newly appointed managing director for mortgages at Paragon Bank Louisa Sedgwick (pictured) said: “An improving economic outlook gives us the opportunity to carry out a positive refresh of our range, taking up to 20 bps off 20 products. We’ve also simplified our offering, and borrowers can choose from deals with nil product fees, percentage fees or a flat fee of £2995.

LendInvest Mortgages has also cut BTL rates. Starting from just 3.69%, these new rates come with an additional discount of up to 10 bps across the BTL range.

LendInvest’s BTL mortgages now offer up to 80% LTV, and are available to individuals, limited companies or those looking to incorporate.

The product range also supports more complex properties, including HMOs of up to 15 bedrooms and MUFBs with up to 10 units.

LendInvest commercial director Sophie Mitchell-Charman commented: “Our new mortgage rates are designed to provide immediate financial benefits to landlords, helping them manage their portfolios more effectively.

“Whether they are first-time landlords or managing larger, more complex portfolios, our tailored products offer flexibility and support to meet their unique needs.”