Paragon announces new five-year fixed rate buy-to-let deals

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Both products, which come with a free mortgage valuation, are for buy-to-let customers borrowing through their personal names or via their limited company.

The maximum loan size for both products is £750,000 up to 75% loan-to-value (LTV), £1m up to 70% LTV and £2m up to 65% LTV.

The first product has an initial rate of 3.44% and a product fee of 2% while the second has an initial rate of 3.50% and a 1% product fee.

Moray Hulme, director for mortgage sales said: “In response to the current strong demand and ahead of the imminent budget announcement, we have reviewed our product range.

“We have decided to offer two products that give landlords who are interested in either purchasing or remortgaging on single self-contained properties a couple of well suited options.

“This comes ahead of a significant re-structuring of our product range and we look forward to sharing more information once it is available”

Early redemption charges (ERC) of 5% are in place during years one and two, charged at 4% for years three and four and 3% for year five.