New Buy-To-Let Lifetime Trackers from Paragon

Specialist buy-to-let lender Paragon Mortgages has launched a new range of lifetime buy-to-let trackers with rates starting from 4.50%.

It has also refreshed its range of fixed and tracker buy-to-let mortgages.

Paragon is offering three lifetime trackers for single self-contained properties and another three for multi-unit blocks and HMOs.

Rates start at 4.50% to 65% LTV, then rise to 4.70% to 70% LTV and 4.95% at the maximum LTV of 75%.

All deals have a 1.50% product fee and early redemption charges in the first three years.

Paragon is also offering a five-year tracker charging 4.85% to 75% LTV, with a 1.75% product fee.

Its product range also includes a dozen new two-year trackers with LTVs ranging from 65% to 75%, and a choice of product fees ranging from zero to 3%.
The two-year tracker range kicks off with a two-year tracker charging 4.2% up to 65% LTV, with a 3% fee.

Paragon has also launched a series of two-year fixed rate buy-to-let products with initial rates ranging from 4.45% to 5.95%.

All fixes are available up to 75% LTV.

Director of mortgages John Heron said: “The new lifetime tracker products are very competitive and offer something new for landlords who are looking to extend their portfolios.

“The market has been somewhat stuck in a rut with two-year fixes and trackers, which may have their place, but high reversion rates may mean that in many cases a good two-year rate may not work out well in the longer term.”