The limited-edition two-year fixed rates are priced from 3.45% for properties with an Energy Performance Certificate (EPC) rating between A and C, Paragon says.
The firm said the deal comes with 4% product fee and is available up to 70% loan to value (LTV) for purchase or remortgage single self-contained properties.
Paragon has also removed the application fee and the interest coverage ratio is calculated at 5.5%.
There is an equivalent deal for purchase and remortgage for houses in multiple occupation (HMOs) and multi-unit blocks (MUBs), with pricing beginning from 3.8% and stressed at 5.8%.
Customers can benefit from £500 cashback on completion, as well as free mortgage valuations.
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James Harrison, Paragon Bank’s mortgages product manager, said: “With the economy settling a little following recent disruption, swap rates have gradually reduced, enabling us to lower rates for landlord customers.
“It’s fantastic to be able to offer some market-leading rates on two-year fixed deals, which brokers tell us are a popular option currently. Removing the application fee on our SSC products and offering cashback and free mortgage valuations also provides landlords with some attractive options.”
Harrison added: “This week, we announced a streamlined process for landlords with up to 15 properties, made possible by the launch of our bespoke mortgage application platform, requesting fewer supporting documents and speeding up application time. It’s a significant change and means a broader spectrum of brokers and landlords are able to benefit from these competitive products.”
Paragon unveiled its streamlined buy-to-let (BTL) mortgage application journey earlier this week for landlords with up to 15 properties by lowering document requirements and speeding up the process.
This article was first published on YourMoney.com‘s sister site, Mortgage Solutions. Read: Paragon launches limited-edition two-year fixed rates
