Pepper Money has completed a second charge mortgage with The Loan Partnership (TLP) for a customer looking to finance a buy-to-let (BTL) investment and home renovations. TLP was approached by the customer with the objective of securing a near £200,000 loan to fund a deposit for a BTL property. TLP said that it chose Pepper Money because of the “lender’s progressive approach to assessing self-employed income and its ability to structure a 30-year loan term”, with the first five years on an interest-only basis before switching to repayment.

Fleet Mortgages has reduced rates on its five-year HMO/MUFB fixed rates and its EPC A-C variation. The BTL lender’s product rates now start from 5.59% on a 65% LTV five-year fix, while the 75% LTV product is available from 5.69%, both with a £3,999 fee. Fleet’s 75% LTV five-year fix with a 3% fee has been reduced to 5.39%, while the 3% fee EPC A-C product starts from 5.29%. The zero fee 75% LTV five-year fixed rate has been reduced to 5.89%.

Paragon Bank has reduced rates on its BTL two-year fixed range to its lowest level since May 2022. Rates now start from 3.34% at 70% LTV for single self-contained properties with an EPC rating of between A-C. These products are subject to interest coverage rations of 5.50% and a 5% fee. Paragon is also offering two-year fixes at up to 75% LTV for the purchase or remortgage of SSCs, with rates starting at 4.34% Corresponding products are also available for HMOs/MUFBs, with rates starting from 3.59%. All products come with a free valuation and are subject to a £299 application fee.

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