Paragon Bank now offers a £750 cashback and 3% fee to five-year fixes

Paragon Bank has added a generous £750 cashback and reduced the product fee to 3% on its five-year fixed-rate mortgages.

The lender has made these changes to its range of two-year and five-year fixed-rate mortgages, which are available up to 90% loan to value (LTV).

The two-year fixes start at 3.24%, while the five-year fixes start at 3.84%. Both products come with a £995 product fee.

Paragon Bank’s head of mortgages, Richard Rowntree, said: “We are pleased to be able to offer even more value to our customers with these latest product enhancements.

“The addition of a £750 cashback on our five-year fixed-rate mortgages will help borrowers reduce their upfront costs, while the reduction in product fee to 3% will make our mortgages even more competitive.

“We are committed to providing our customers with a range of flexible and competitive mortgage products to meet their individual needs.”

Paragon Bank's five-year fixed-rate mortgages

Paragon Bank's five-year fixed-rate mortgages are available up to 90% LTV and come with a range of features, including:

• Free standard valuation
• Free legal advice for remortgages
• Option to overpay up to 10% of the original loan amount each year without penalty
• Portable, so you can take your mortgage with you if you move house

Eligibility criteria

To be eligible for a Paragon Bank five-year fixed-rate mortgage, you must:

• Be aged 18 or over
• Be a UK resident
• Have a good credit history
• Be able to afford the monthly repayments

How to apply

You can apply for a Paragon Bank five-year fixed-rate mortgage online, over the phone or through a mortgage broker.

Conclusion

Paragon Bank's five-year fixed-rate mortgages offer a combination of competitive rates, low fees and flexible features. If you are looking for a long-term fixed-rate mortgage, Paragon Bank is worth considering.