The 75% LTV product has an interest rate of 3.5% and includes a free mortgage valuation.
It has a fixed product fee of £3,500 and £299 application charge.
It is available on single self-contained (SSC) properties with loans between £350,000 and £1m.
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Moray Hulme, director of mortgage sales at Paragon (pictured above), said: “This new product complements our existing range and provides landlords with more choice in the higher loan space.
“Through listening to introducers, we know that offering a flat fee on a higher maximum loan is competitive and presents good value for borrowers.
“We know that there is currently strong demand for properties across the pricing spectrum, so this product will be a superb option for landlords who are expanding their portfolios through higher value purchases."
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