Paragon Bank is growing its green finance range with the addition of two further advance products for properties with an energy rating of A, B or C.

The products are available to landlords with four or more mortgaged buy-to-let (BTL) properties and who are looking for additional funding for lettings businesses they manage as individuals, limited companies or limited liability partnerships.

The further advances are available on houses in multiple occupation (HMOs), multi-unit blocks (MUBs) or single self-contained units in England and Wales up to 75% LTV and come with free valuations and no application or product fees.

On HMOs and MUBs rates are fixed at 3.50% for two years and 3.75% over five years. Rates start at 3.35% on two-year fixes for SSCs, rising to 3.70% when borrowed over a five-year term.

The two-year fixed rate products incur early redemption charges of 3% and on the five-year fixed rate products early redemption charges are 5% for years one and two, 4% for years three and four and 3% for year five.

Paragon director of mortgage sales Moray Hulme says:: “We are committed to encouraging our landlords to invest in energy efficient properties, thereby increasing the proportion of A-C rated properties in the private rented sector (PRS).

“In March we launched products with market-leading rates to incentivise the purchase or remortgage of properties with EPC rating of A-C. We had a fantastic response to these and wanted to build on this to offer more choice for landlords who wish to improve the sustainability of their lettings businesses.”