The ‘green’ further advance products are aimed at portfolio landlords who have been accepted for the government’s Green Homes Grant, which covers two thirds of energy efficiency improvements up to a maximum of £5,000.

Paragon’s products, which have no application or product fee and rates starting at 3.35%, can be used to fund the remainder of the work.

Indeed, the four products, which are available in two and five-year fixed rates at up to 75% loan-to-value (LTV), also come with a free valuation.

Moray Hulme, Paragon director of mortgage sales, said: “We are pleased to be able to support landlords improve the energy performance of their properties and drive standards in the private rented sector. Our research shows that a large proportion of landlords are interested in making their properties more energy efficient through the Government’s Green Homes Grant scheme and these further advance products will help finance any improvements.” 

He added: “As part of our wider commitment to playing an active part in improving the sustainability of property in the UK, we are incentivising green improvements to buy-to-let properties by offering these further advance deals with free valuations and no application and product fees.”

The mortgages are available in England on houses in multiple occupation (HMOs) and multi-unit blocks (MUBs), as well as single self-contained properties (SSCs).