Paragon Bank has refreshed its range of buy-to-let mortgages, reducing rates on selected products by 50bps.
The refresh sees reductions across two-year and five-year fixed rate buy-to-let mortgages, with a choice of nil, 3% and 5% fees, alongside a £3,995 fee product. The products are available for purchase and remortgage with options at 65%, 70% and 75% loan to value (LTV).
New offers include a 70% LTV two-year fix with rates from 3.64% for Single Self Contained (SSC) properties (EPC A-C), 5% initial fee and £299 application fee.
A limited edition 65% LTV five-year fix with rates from 4.59% for SSC properties (EPC A-C), 5% initial fee and £150 application fee.
Also a 75% LTV five-year fix with rates from 5.55% for SSC properties (EPC A-C), £3995 fee, £299 application fee and £750 cashback
These rates increase by 5bps for properties with an EPC rating of D or E and 25bps for houses in multiple occupation (HMO) and multi-unit blocks (MUB).
All products are available for individual and limited company applications in England, Scotland and Wales.
Commenting on the rate changes Paragon Bank product manager James Harrison said: “The economic uncertainty surrounding the Budget has largely subsided, helping to bring swap rates down. Passing this on to our customers, we’ve reduced rates across a wide range of buy-to-let mortgages.”
Accord Mortgages is cutting rates for the second time in a month. The changes come into effect from Thursday 12 December and include reductions to the residential range of up to 0.10% on the intermediary-only lender’s 10-year fixed rate product, and selected two-year products are reduced by 0.04%. Five-year fixes are going down by 0.06%. The buy-to-let range for landlord clients sees fixed rates reduce by 0.05% across the board.
New offers include a fee-free two-year fix up to 75% loan-to-value (LTV) at 5.09% (was 5.13%), for house purchase, with £500 cashback and free standard valuation.
A five-year fix up to 85% LTV at 5.05% (was 5.11%) for those remortgaging, with a £495 fee, free standard valuation and remortgage legal service
And a two-year fix up to 95% LTV at 6.17% (was 6.21%) for those purchasing a home, with a £495 fee, £250 cashback and free standard valuation.
For landlords seeking a buy-to-let mortgage, Accord is offering a fee-free two-year fix at 5.09% (was 5.14%) for house purchasers and those remortgaging up to 60% LTV, which comes with free standard valuation
A three-year fix at 4.84% (was 4.89%) for those remortgage. ing up to 65% LTV, with a £995 fee, free standard valuation and remortgage legal service
Also a five-year fixed rate at 4.79% (was 4.84%) for those remortgaging up to 75% LTV, with a £1,995 fee, free standard valuation and £250 cashback.
