Paragon Bank has reintroduced its buy-to-let green product range, with preferential pricing for energy efficient properties.
The lender now offers a 10 basis point price reduction across its BTL product range for properties with an Energy Performance Certificate rating of A to C.
Paragon’s green offering has also been extended to all property types, including single self-contained properties (SSC), houses in multiple occupation (HMO) and multi-unit blocks (MUBs), having previously been restricted to SSCs.
The lender has also reintroduced 80% LTV products across its standard BTL range and amended its portfolio range so that the same rates are available for both single self-contained properties, HMOs and MUBs.
Rates on the Portfolio product range start from 2.95% for 70% LTV products, rising to 3.05% at 75% LTV and 3.99% at 80% LTV. All products come with free valuation and a mix of either cashback or no application fees.
Paragon Bank director of mortgages Richard Rowntree says: “We have strengthened our green proposition to encourage landlords to add more energy efficient properties into the private rented sector (PRS). The energy efficiency of the PRS has improved significantly over the past 10 years, but we know more needs to be done as the UK moves towards a carbon zero target.
“The first step is encouraging changing buying behaviour so that more properties with EPC A-C are added to the sector. The next, more challenging, step will be to upgrade existing homes in the PRS and we are looking at numerous ways we can help our landlord customers to achieve that. This is a complex area but it’s something we must all address.”