Paragon has added five remortgage-only buy-to-let products to its mortgage range.

The loans are available at 65% and 75% loan-to-value (LTV) and are for use by portfolio landlords operating as individual landlords, limited companies or limited liability partnerships.

At 75% LTV, the remortgage loans are available for single self-contained units (SSC), houses in multiple occupation (HMO) and multi-unit blocks (MUB). Rates start at 2.90% when remortgaging on properties with EPC ratings of A – C and fixed over 2 years, rising to 3.00% for properties rated EPC D or E. When fixed over 5 years, rates for the 75% LTV products are priced at 2.98% for EPC A – C properties and 3.08% for homes with energy efficiency ratings below this.

The 65% LTV product has an initial rate of 2.77%, fixed over 5 years, and is available for remortgaging SSC.

The products include a free valuation, cashback and incur no application fees. The minimum loan amount is £30,000 and maximum is £1m up to 75% LTV, £1.5m up to 70% LTV and £4m up to 65% LTV.

Paragon director of mortgage sales Moray Hulme says: “The popularity of 5-year fixed-rate mortgages saw a huge increase in 2017 and with many of these loans now maturing, we anticipate a rise in landlords who will be looking for competitive finance for their portfolios.

“To support these investors, we’ve expanded our range of remortgage products, offering landlords more choice and some certainty through the option to fix rates for two or five years.”

All five-year products include an interest coverage ratio (ICR) starting at 4.00% and are subject to Early Repayment Charges (ERC) of 5% in years one and two, 4% during years three and four and 3% for year five.