The catalyst behind this is the new underwriting standards that were brought in by the PRA in 2017. The lender will be well placed to manage the increasing numbers of borrowers with five-year fixed rates, who now wish to switch to longer terms. The lender also expects the industry to increase offerings that assist customers in purchasing more energy efficient properties and upgrading to improve their EPC rating, before the new rules on EPCs come into force in 2025.
Last month, Paragon reduced rates on selected 75% and 80% LTV five-year fixed rate buy-to-let products. The lender’s green mortgage five-year fixed rate, at 80% LTV, has been reduced from 3.99% to 3.85%. The standard five-year fix at 80% LTV is now down from 4.09% to 3.95%. from CMB https://commercial-mortgages-broker.co.uk/buy-to-let-news/paragon-forecasts-wave-of-btl-remortgaging-activity-in-2022/ from https://commercialmortgages2.tumblr.com/post/672084658512691200
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