The reductions across 80% LTV products include the 5-year fixed-rate reduced to 3.95% from 4.09%, and the 5-year fixed-rate 80% LTV green mortgage reduced to 3.85% from 3.99%.

Both products have no product fees and include a free valuation and £350 cashback.

The reductions across 75% LTV products include the 5-year fixed-rate reduced to 3.15% from 3.35% and the 5-year fixed-rate green mortgage reduced to 3.05% from 3.25%.

Product fees for the 75% LTV deals are charged at £1,995 and both products feature free valuations, no application fees and £750 cashback.

Moray Hulme, sales director at Paragon Bank, said: “Landlords are looking to add to portfolios to satisfy growing levels of tenant demand.

“We have re-priced some of our BTL rates to provide investors with some competitive mortgages at 75% and 80% LTV.”