Paragon Mortgages is launching three fixed rate buy to let mortgages for periods from one to five years.
The one year fixed rate is at 5.25 per cent, with a maximum loan to value of 75 per cent for loans up to £500,000, rising to 1.5 per cent above the three month London inter-bank offering rate for the rest of the term. Redemption costs are six months' interest during the fixed period, reducing to three months for the following two years.
The two year fixed rate is 5.75 per cent, but with a redemption penalty of six months' interest during the first two years. The five-year fix is at 5.95 per cent, with a penalty of nine months' interest during the period of the fix.