Paragon Bank has unveiled reduced rates on 22 of its buy-to-let mortgage offerings, now offering fixed deals from as low as 4.59%.

This adjustment is a component of an extensive product overhaul. Rates have been revised across various loan-to-value (LTV) categories, catering to both portfolio landlords – those who possess four or more buy-to-let mortgaged assets – and those who don’t fall under the portfolio category.

One of the standout changes is a 26bps cut on Paragon’s 70% LTV two-year fixed-rate mortgage, which now stands at an industry-leading 4.59%. This rate is on offer for portfolio landlords, specifically for the acquisition or remortgage of individual self-contained properties that have EPC ratings between A and C. The rates go up slightly to 4.64% for properties with EPC ratings of D or E, and further to 4.84% for Houses in Multiple Occupation (HMO) and Multi-Unit Blocks (MUB).

For the two-year fixed mortgages, the product fee is designated at 5%, and interest coverage ratios (ICR) are computed at two percentage points over the starting rates.

In addition, all these products come with a complimentary property valuation. These mortgage offerings are open for applications by landlords, whether applying individually or through limited company frameworks, across England, Scotland, and Wales.

Louisa Sedgwick, Commercial Director at Paragon Bank, said: “In this market, landlords want options, so we are pleased to offer these competitive rates with a mix of terms, LTVs and fees.

With a range of different indicators suggesting that the UK economic outlook is strengthening, the stabilisation of swap rates has continued and, as a result, we’ve been able to again reduce rates on some of our key products. The most exciting of these is our 70% LTV two-year fix with a rate of 4.59%, making it the best-priced product in the market for limited company buy-to-let.”