Paragon Bank has issued two new fixed-rate mortgages, including a product for homes in multiple occupation and multi-unit blocks.

Both available at up to 75 per cent LTV, the first new mortgage is a five-year fix at 3.50 per cent for single self-contained units and the second, a five-year fix at 3.60 per cent.

The latter product has been designed for HMOs and multi-unit blocks.

Both products charge a £3,500 product fee and a £299 application fee. They also include a free mortgage valuation.

The minimum loan for each is set at £350,000 and the maximum at £1m, which follows the lender launching a deal for landlords who need to borrow up to £1m on a five-year fix at the end of last year.