Paragon Bank has cut selected five-year buy-to-let mortgage rates by 0.15 percentage points, with pricing now starting from 4.95 percent on greener single-let properties and from 5.1 percent on HMOs and multi-unit blocks.
The move gives landlords a fresh same-day sign that swap-rate easing is feeding through into live product pricing rather than sitting in lender commentary. It also lands just two days after Paragon reported gross new lending of £2.06 billion for the nine months to 30 June, suggesting the lender is still pushing for landlord business rather than simply defending margin.
For landlords, the immediate value is not just a slightly cheaper headline rate. The sharper point is that lenders are still pricing standard single lets more keenly than complex stock, even when they cut across the board. That keeps the finance gap between simpler properties and specialist assets very much alive.
Green single lets get the lowest Paragon pricing
Paragon said the reduced rates apply across selected five-year fixed products for landlords buying or remortgaging single self-contained properties, HMOs and multi-unit blocks. According to the lender’s latest buy-to-let product guide, rates now start from 4.95 percent in its green range for properties with EPC ratings from A to C.
Equivalent single self-contained products for homes rated D or E now start from 5 percent, while HMO and multi-unit block pricing starts from 5.1 percent. That may not sound like a wide spread, but it still matters once landlords begin comparing loan size, stress testing and total fixed-period cost.
James Harrison, product manager at Paragon Bank, said the lender had moved quickly after swap rates cooled in recent days, adding that the aim was to give brokers more options across different fee structures, loan-to-value bands and property types.
This follows Landlord Knowledge’s recent report on Paragon adding £1,000 cashback across 21 landlord mortgages and its earlier coverage of Foundation’s remortgage repricing. The latest change suggests landlord lending competition has not gone quiet after this week’s Bank Rate hold. It is just becoming more selective.
Specialist stock still carries a pricing premium
The cut is welcome, but it does not flatten the market. Paragon is still charging more for HMOs and multi-unit blocks than for cleaner green single lets, which reflects the extra underwriting complexity and risk attached to specialist property.
That is the practical warning for landlords chasing better monthly cashflow. A small rate reduction can improve affordability at the margin, but it does not erase the structural premium attached to more complex assets. Portfolio landlords refinancing shared housing or mixed blocks may still find that the cheapest deals remain concentrated in lower-risk cases.
That also helps explain why lenders keep mixing incentives and criteria tweaks with rate cuts. Landlord Knowledge’s recent coverage of Lendco’s July rate cuts showed a similar pattern, with the keenest pricing reserved for simpler cases even as the wider range moved lower.
Why this matters for remortgaging landlords now
The timing matters because many landlords are heading into the late-summer refinance window while waiting to see whether wholesale funding costs settle further. Paragon’s move gives brokers and borrowers a live indication that lenders are still prepared to pass on at least some of that easing rather than wait for a bigger base-rate shift.
But landlords should still look past the opening number. Arrangement fees, valuation support, cashback, loan-to-value, fees and early repayment charges can all change which deal is actually cheapest over five years. In some cases, the better option may still come from a slightly higher-rate product with a lighter fee structure.
What this means for landlords
- If you’re remortgaging this summer: another specialist lender has moved pricing lower, so it is worth rechecking cases that looked marginal earlier in the week.
- If your property has a stronger EPC rating: green single lets are still getting the sharpest pricing, which reinforces the finance benefit of better-rated stock.
- Watch for: whether rivals answer with further five-year cuts or broader repricing across HMO and multi-unit ranges.
- Bottom line: rate competition is still working in landlords’ favour, but the best prices remain concentrated in simpler and more energy-efficient cases.
Editor’s view
Paragon’s cut is not dramatic on its own, but it is timely. The more useful signal for landlords is that lenders are still chasing refinance business while quietly rewarding lower-risk, greener stock first.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 04 August 2026
Sources: Paragon Bank buy-to-let product guide
Related reading: Paragon adds £1,000 cashback to 21 landlord mortgages
