Paragon Mortgages hopes to grab a bigger slice of the buy-to-let market by slashing mortgage rates by up to a percentage point.
The phone-based mortgage provider is offering new three, five and 10-year fixed mortgages, each at 7 per cent APR. Previously three and 10-year rates were 8 per cent APR and five-year rates were 7.9 per cent APR.
Loan-to-let mortgages are for people wanting to buy property to rent out.
IFAs can expect commission of 0.5 per cent of each agreed mortgage, between a minimum charge of £250 and a maximum of £500.