The new range will see rates start at 6.24% for a five-year fixed-rate for single self-contained properties, houses in multiple occupation and multi-unit blocks.

The product includes free valuations and no application fee.

The range includes two product switch options and two further-advance products, including two and five-year rates.

The extension of its 80% LTV range follows the launch of 80% LTV products for purchase and remortgage in April.

Paragon Bank commercial director of mortgages Russell Anderson says: “Adding 80% LTV products to our range gives landlords more choice and flexibility, and we have seen a positive response to the launch of our purchase and remortgage range in April.”

“We want to ensure that our existing customers also benefit from the flexibility that 80% LTV products offer, so we are pleased to expand our range to both product switches and further advances.”