Specialist buy-to-let lender Paragon Mortgages has launched a range of three year fixed rate products and refreshed all other products in its range which are designed to meet the needs of professional landlords.
The latest three year fixed rates are available up to 75% LTV at 3.99% for single, self-contained properties and 4.45% for HMOs and multi-unit blocks - both are offered with a 2% product fee.
The new three year fixed rate products complement the existing range of two and five year fixed rate offerings that have been re-dated to 30 September 2017 and 2020 respectively. Rates start from 3.75% for the two year products and from 4.60% for the five year fixes.
John Heron, director of Paragon Mortgages, said: “Our new range of three year fixed rate products are very competitive and designed to meet the needs of more experienced landlords with larger property portfolios. The new range, along with our fixed rates for two and five years, best suit landlords looking to plan financially for the slightly longer-term. Our latest intermediary trends survey shows that their landlord clients are still preferring to fix and the growth in popularity of five year fixes remains.
“Our range now includes 14 competitive and tailored fixed rate products in addition to the tracker rates available for a variety of terms for those landlords who require a little more flexibility. We have worked hard to ensure that our new summer range has something to meet a breadth of professional landlords’ requirements as demand from tenants remains high.”