Bank offers preferable rates for landlords with good EPCs

Paragon Bank is offering four new limited edition buy to let mortgages, with two products suitable for landlords with three or fewer mortgaged buy to let properties, and two corresponding options for those with four or more buy to let properties.

Available on single self-contained properties at up to 65% loan-to-value, the products come with a £2,995 fee.
 
Rates start at 5.45% for the purchase or remortgage of properties with EPC ratings of A-C. Homes assessed to be EPC D or E-rated can be financed with rates at 5.50%.
 
Interest coverage ratios are calculated in line with initial rates and the products are available for individual and limited company applications in England, Scotland and Wales.

Louisa Sedgwick, Mortgages Commercial Director at Paragon Bank, says: “We’ve launched these limited-edition products to provide landlords with more choice and offer solutions that suit a broader spectrum of customer.
 
“Our expertise means that we’re sometimes seen as an HMO or multi-unit block lender. While it is true that we do have lots of experience in this space and work with established landlords, we also support newer entrants to the market who may be growing their portfolios with more simple propositions, such as single self-contained properties.
 
“Offered at a lower loan-to-value of 65%, these products will be particularly appealing to those that can put down a slightly larger deposit to benefit from lower rates.”