Paragon Bank has made a number of changes to its buy-to-let mortgage range.

Reductions take place on products at up to 75 per cent LTV and include, for portfolio landlords, the two-year fix having 5 basis points cut to bring the rate to 3.20 per cent and the five-year fixed rate being reduced by 45 basis points to 3.75 per cent.

The two-year fix comes with a 1 per cent product fee and £750 cashback. It is available for houses in multiple occupation and multi-unit blocks.

The five-year fix has zero product fee and features £750 cashback. It is available for single self-contained units.

For non-portfolio landlords, the cuts include the 70 per cent LTV five-year fix being reduced by 25 basis points to 2.99 per cent and the product fee having 50 basis points cut to bring this to 1.50 per cent.

Additionally, the 75 per cent LTV five-year fix has had 29 basis points cut, bringing the rate to 3.65 per cent. This product charges zero product fee and comes with £350 cashback.

Both non-portfolio products are available for SSC.

Paragon director of mortgage sales Moray Hulme says: “The extension of the stamp duty holiday means that we’re likely to see further increased purchase activity over the coming months.

“In addition, we know that a significant number of landlords opted for five-year fixed rate products as a result of the introduction of the 3 per cent stamp duty surcharge in 2016. These mortgages are set to mature so we expect to see an increased focus on remortgage activity too.

“Landlords are adept at responding to the market and we aim to support this by developing products that provide useful and competitive options for those who are modifying their portfolios in line with current conditions.”