The feature enables BTL landlords to select a new discounted variable-rate mortgage, which can be switched to an available Paragon fixed-rate switch product at any given time during the term, incurring no ERCs.
As part of its BTL range refresh, Paragon has also unveiled new or revised options across portfolio and further advance products.
For portfolio landlords with four or more mortgages BTL properties, the lender has added two new two-year fixed-rate mortgages, with initial rates starting at 4.95%.
Discounts on variable-rate mortgages have also been revised, with increased discounts on 12-month, two- and three-year SVR products.
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Other changes include the launch of new fixed- and variable-rate further advance products.
Moray Hulme, director for mortgage sales at Paragon (pictured above), said: “We’re delighted to share our refreshed product range with the market, and are particularly excited about the introduction of a ‘track to fix’ feature.
“This enables our customers to secure the finance they need now, monitor the market and then potentially fix at a rate that works for them.
“We know that the fluidity seen in the market recently means that some borrowers want to strike a balance between flexibility and certainty, which this feature provides.”
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