Specialist buy-to-let mortgage provider Mortgage Trust has launched a new range of products, including the introduction of two five year stepped fixed rates.
The sister brand of Paragon Mortgages has updated its entire buy-to-let range, with 24 new products and five product refreshes.
With a continuing preference among landlords for fixed rates, there are 20 new fixed rates available, including a two year fix at 3.05% at 75% LTV and a five year fix at 3.50% at 75% LTV (both products come with a £995 product fee).
Also included in the updated range are two new stepped rate products available for a five year term. Designed for landlords who want that extra level of financial planning, the five year fixed rate products can either increase in rate each year until the end of the term, or decrease dependent on the landlord’s preference.
The new range also includes two, two year trackers and a term tracker, available for purchase and remortgage. All products in the range include free valuation and a £150 application fee. As part of their continued commitment to the Scottish market, the range also features products exclusively for Scotland.
John Heron, Director of Paragon Mortgages, said...
The new Mortgage Trust range includes a mix of products to suit a variety of landlords’ needs. Our research among brokers has consistently shown their landlord customers have a strong preference towards fixed rates, which is why our new range includes 20 new fixes with a range of terms available. Last month we released several stepped rate fixes through Paragon Mortgages, these proved to be popular, so we have now launched two stepped rates through Mortgage Trust too