Paragon Bank has launched its cheapest five-year fixed rate in almost three years. Rates on the lender’s five-year limited edition buy-to-let mortgage start from 4.29%, which is the lowest rate since August 2022. The rate is available to landlords purchasing or remortgaging single self-contained (SSC) properties with EPC ratings of A to C. Five-year options are also available for SSCs rated EPC D or E and HMOs with interest at 4.34% and 4.64% respectively. These mortgages are available at up to 65% LTV and have a 5% product fee.

CHL Mortgages for Intermediaries has reduced rates by up to 0.39% across all products and ranges. As a result, two- and five-year fixed rates now start from 2.35% and 4.48% respectively. All products are available to individual and limited company landlords at up to 75% LTV. The lender has also introduced free valuation products on its CHL1 limited edition and CHL2 large houses in HMO ranges.

Castle Trust Bank has introduced a new fast-track service that commits to completing on a loan within 48 hours of issuing an offer. The service, which is available on bridge and term refinance applications, leverages Castle’s use of dual legal representation, title insurance and digital documentation through DocuSign. The new initiative is designed to further streamline the property finance process, giving investors and landlords access to completions where speed is essential. In order to qualify for 48-hour completion service, applications must be refinances only, be dual rep with Russell Cooke, qualify for title insurance and have a valid valuation. Applications must also have an up-to-date redemption statement and be able to have all qualifying documentation signed via DocuSign.

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