The options offer loans up to £4m at 65% LTV and £1m at 75% LTV, designed for portfolio landlords with four or more mortgaged properties operating as individual landlords, limited companies or limited liability partnerships. 

The 65% LTV product, fixed over a five-year term, is available for remortgaging single self-contained units (SSC) and has an initial rate of 2.77%.

The 75% LTV options are offered for remortgaging SSCs, HMOs and MUBs.

The rate for the two-year fix at 75% LTV is 2.90% for properties with an A-C EPC rating, rising to 3% for D- and E-rated units.

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Meanwhile, the five-year fixed-rate options at 75% LTV are priced at 2.98% for EPC A-C properties and 3.08% for homes with energy efficient ratings below this. 

The five new products offer a minimum loan size of £30,000 with no application fees, and include a free valuation and cashback.

All five-year options include an ICR starting at 4.00% and are subject to ERCs of 5% in years one and two, 4% during years three and four and 3% for year five.

Moray Hulme, director for mortgage sales at Paragon Bank (pictured above), said: “The popularity of five-year fixed-rate mortgages saw a huge increase in 2017 and with many of these loans now maturing, we anticipate a rise in landlords who will be looking for competitive finance for their portfolios.

“To support these investors, we’ve expanded our range of remortgage products, offering landlords more choice and some certainty through the option to fix rates for two or five years.”