Here is one straightforward product that says quite a lot about the market without us needing to disappear into a mortgage seminar.
Paragon has launched a limited-edition five-year fixed buy-to-let range at 75% loan-to-value, all with a 5% product fee.
For single self-contained properties with an EPC rating of A to C, rates start at 4.95%. That rises by 5 basis points for D or E rated properties.
For HMOs and multi-unit blocks, rates start at 5.20%.
Paragon also has matching limited-edition 60% LTV five-year fixes with the same 5% fee, starting at 4.80% for A-C rated single lets and 5.05% for HMOs and multi-unit blocks.
So who is it for?
In simple terms, it is for investors who want the certainty of a five-year fix, are comfortable with a high-fee, lower-rate structure, and are either buying or refinancing fairly standard buy-to-let property.
It is also available whether you are borrowing in your own name or through a limited company, which is useful because that still matters to a lot of investors.
Paragon also says the interest coverage ratio is calculated in line with the initial rate, which may help some cases stack a bit more comfortably than they would elsewhere.
The big thing to understand is the fee
A 5% fee is not small.
This is not a product for someone glancing at the headline rate and deciding it looks nice. It is a product for someone who is going to sit down properly with the numbers and work out whether the lower pay rate outweighs the chunky upfront cost.
Paragon itself has said it is seeing investors move towards higher-fee products to secure a lower pay rate, which tells you exactly what sort of borrower this is aimed at.
There is also a message in the pricing
Paragon is still giving slightly better pricing to more energy-efficient single lets, and the cheapest rates are at 60% LTV, not 75%.
In other words, the best pricing still goes to the safer, cleaner cases.
That is hardly shocking, but it is worth noticing.
My view?
This looks like a decent product for the organised investor with a reasonable loan size, a clear hold strategy, and the discipline to compare the fee against the monthly saving.
For the wrong borrower, it will look expensive.
For the right borrower, it may be exactly the sort of deal that helps the numbers work.
Which, in 2026, is probably about as exciting as buy-to-let mortgages get.
As ever, this isn’t advice. Don’t draw down loans or mortgages without taking advice from a good mortgage broker.
If you don’t have a mortgage broker, or you’d like a second opinion, I’ll be happy to introduce you to mine.
Just email me at:
and I’ll make the introduction.
Here’s to successful property investing.
Peter Jones
Author, property investor & ex-Chartered Surveyor
P.S. If you’d like help thinking through your buy-to-let strategy properly, you might find my Successful Property Investor’s Strategy Workshop useful.
You can find out more here:
