A leading buy to let mortgage lender has revealed a range of offers for landlords.
Paragon Mortgages – which also runs the Mortgage Trust brand – has launched lifetime tracker buy to let loans for flats and houses in multiple occupation (HMOs).
Rates begin at 4.5% on the 75% loan-to-value (LTV) deals which come with a 1.5% completion fee.
The lender has also revamped a number of two-year tracker and fixed rate buy to let mortgages.
Trackers stat at 4.2%, while six new two-year fixes have been released at rates between 4.45% and 5.95% up to 75% LTV.
The 5.95% deal comes without any completion fee.
John Heron, director of mortgages, said: “The new lifetime tracker products are competitive and offer something new for landlords who are looking to extend their portfolios.
“These are good value products for the whole term. The market has been stuck 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.”
Mortgage Trust has also launched a new buy to let mortgage range without early repayment charges for deals completing in January.
Mortgages include a two-year tracker at 3.85% with a £995 fee and a 4.25% two-year tracker with no arrangement fee until the end of the month.
Both of the products are for purchase and remortgage and come with a free valuation. Borrowers pay a £150 admin fee on each loan.
“This is the first new range of the year, and we will continue to refresh our product range over the coming months,” said Heron.
Skipton Building Society has cut standard valuation fees by an average of £150.
Bigger reductions apply to homebuyer reports and buildings surveys.
Standard valuations start from £156 for homes valued up to £100,000.
The Skipton is also extending free valuation and legal fee offers to higher value properties and loans.
Free legal fees are offered on remortgages up to £1 million, while free standard valuations are available on remortgages for properties valued up to £1.5 million.