Paragon Unveils New Buy-to-Let Tracker Mortgages Aligned With Bank Base Rate

Paragon Unveils New Buy-to-Let Tracker Mortgages Aligned With Bank Base Rate

Paragon Bank has launched a new range of buy-to-let tracker mortgages that move in line with the Bank of England Base Rate, which was recently cut from 4.00 % to 3.75 %. This allows landlords to benefit from rate changes without being locked into higher costs — and the deals have no Early Repayment Charges, so borrowers can switch products at any time without penalty. 

The new range includes six products available on five-year terms with up to 75 % loan-to-value (LTV). All start at Bank Base Rate + 1.60 %. Landlords can choose between three fee levels — 0.75 %, 1.00 % or 1.50 % — and interest coverage tests are based on the initial rate plus 2 %. 

There are three options for standard single-unit buy-to-let properties and three for HMOs (houses in multiple occupation) and multi-unit blocks (MUBs). The single property products have no application fee, while there’s a £299 fee for HMO and MUB applications. 

Paragon has also cut rates on some two-year fixed buy-to-let mortgages for HMOs and MUBs by 15 basis points, with initial rates beginning at 3.39 %. These are offered at both 75 % and 65 % LTV, with application fees of £299 and £150 respectively, and with nil, 3 % or 5 % fee options. 

A spokesperson for Paragon commented that with market expectations pointing to further BoE rate cuts in 2026, this tracker range could become an especially attractive choice for landlords looking to purchase or remortgage either single properties or larger portfolios.