These new options are available to portfolio landlords with four or more mortgaged properties who are purchasing or remortgaging HMO, MUB and single self-contained (SSC) properties.
The two-year discounted variable rates start from 2.99%, while the three-year fixes are priced from 4.69% and come with £500 cashback.
All products are available at 75% LTV, come with free mortgage valuations, and include a £299 application fee.
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Moray Hulme, director for mortgage sales at Paragon, said: “After analysing the market, we have introduced some new BTL products that offer landlords more choice.
“We’ve added two-year variable-rate products to enable investors to respond to the strong demand for rented homes we’re seeing currently.
“In addition, with rates expected to fall beyond the anticipated peak in two years, we’re able to offer competitively priced mortgages that are fixed for three years, providing landlords with certainty.”
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