Paragon Mortgages launches new fixed rates

Buy-to-let mortgage specialist Paragon Mortgages has launched three new fixed-rate products targeted at professional landlords.

All three products are fixed for two years and are priced at 5.3%, 5.4% and 5.5% against maximum loan-to-values of 65%, 70% and 75% respectively. Paragon's lending criteria means it can offer professional landlords facilities that are not widely available elsewhere, such as limited companies, multi-unit blocks and Houses in Multiple Occupation.

The new products coincide with the launch of Paragon's mortgage trade advertising campaign, which highlights how Paragon differs from other lenders in the field. With the strapline ‘Distinctly different', the adverts come with engaging visuals and state ‘Not all buy-to-let lenders are the same - at Paragon Mortgages we are proud to stand out from the crowd'.

John Heron, Paragon Mortgages Managing Director, says: "Professional landlords are the cornerstone of the private rented sector and Paragon is focused on helping them to drive their businesses forward. The number of households living in privately rented accommodation is forecast to grow to one in five by 2015 and it will be professional landlords who will be powering this growth. We believe these competitive fixed-rate products will prove popular with the professional landlord community."  

The products have a 2% fee and revert to Paragon's Standard Variable Rate + 0.5% after the fixed period ends. For full product details and terms and conditions, visit paragon-mortgages.co.uk.