Paragon Mortgages have expanded their buy to let range in anticipation of a busy first quarter for landlords and investors.
The lender has launched a new range of two and five year fixed-rate buy to let offerings, available for both purchase and remortgage. The new five year fixed rate products are available at 3.75 per cent up to 75 per cent LTV. The packages also feature interest rate coverage ratios that start at 125 per cent at 4 per cent, graduated to reflect the landlord’s individual tax status.
Among other newly available products is a two-year fix at 3.25 per cent, available for lending up to 65 per cent LTV, and another offering at 3.40 per cent up to 75 per cent LTV.
Managing Director of Paragon Mortgages, John Heron, said: ‘The first quarter is an extremely busy time in the buy-to-let market as landlords review their portfolios and plan for the year ahead. The tax changes being introduced in April make it more important than ever for landlords to think ahead and minimise costs where possible. These products offer landlords the opportunity to put in place longer term mortgage finance, whilst taking advantage of the beneficial impact of today’s record low market rates.’