Buy to let and commercial lenders offer new rates and products as one exits

Lenders are reshaping the buy to let and commercial finance landscape as new products, pricing moves and a strategic exit have been announced.

Paragon Bank has widened its streamlined BTL application journey to include HMOs and Multi-Unit Blocks, cutting friction for landlords holding 15 properties or fewer.

The update follows the summer launch of its simplified process for single self-contained homes and is aimed at investors stepping into higher yielding, more complex stock.

Using Paragon’s mortgage origination platform, application data is automatically pulled from sources such as Companies House, Experian and Hometrack, reducing paperwork and manual checks.

Faster BTL applications

In most cases, landlords are not required to submit payslips, tax returns or bank statements, while limited company borrowers avoid providing two years of accounts at the outset.

All cases remain fully underwritten, with further documents requested only when needed.

Paragon’s managing director of mortgages, Louisa Sedgwick, said: “We’re proud of our heritage in complex buy to let lending, and this enhancement means landlords can now access that expertise through a much simpler and faster application journey.

“HMOs and MUBs are increasingly attractive to landlords looking to maximise returns, and we want to make it easier for those new to these property types to get started and grow.”

Landbay lowers Premier rates

Landbay has revealed lower rates across its Premier range, announcing reductions of up to 10 basis points on selected two- and five-year fixed products.

The cuts apply to standard borrowing, product transfers and like-for-like remortgages for landlords with portfolios of up to 15 properties.

Repriced options include five-year fixes from 4.84% and two-year deals from 4.79% at 75% LTV with a 1% fee, alongside higher-fee alternatives offering lower headline rates.

Landbay has also extended its Specialist range with four new holiday let small MUFB products, reflecting growing demand for diversified income streams.

The lender’s sales and distribution director, Rob Stanton, said: “The four new specialist holiday let small MUFB products provide brokers and their clients with a greater product range depth in what is a growing sector, as landlords seek to diversify and access those areas of the market that can deliver greater yield and profitability.”

The lender has also introduced a 5% annual overpayment facility across new buy to let applications, adding flexibility for borrowers with surplus cash.

Kent Reliance for Intermediaries ends

Kent Reliance for Intermediaries has announced it will withdraw from new lending on 17 December, pulling buy to let, residential shared ownership and further advance products a day earlier.

Applications that have reached the fees-paid stage will complete as normal, with ongoing support maintained for existing customers.

The decision aligns with OSB Group’s multi-brand strategy following the launch of Rely as a dedicated buy to let proposition, while Precise becomes the group’s residential and bridging specialist.

Adrian Moloney, the group intermediary director, said: “KRFI has a 13+ year track record in supporting brokers and their customers with specialist buy to let and residential finance and we’ve channelled those learnings to make it simpler for brokers to choose the right OSB Group lender for their customers’ requirements.”

Atom sets a business record

In commercial lending, Atom bank has posted a record-breaking quarter for mortgage offers, overtaking its previous high with a month remaining.

Offer values are already tracking more than 7% above the previous quarter, with October delivering the strongest month on record.

The performance came despite reduced staffing levels during school holidays and the opening of Atom’s new Newcastle headquarters.

Atom’s head of business, Tom Renwick, said: “Breaking our all-time monthly and quarterly records is an exceptional achievement, but it is just the beginning.

“These results prove that our appetite for commercial mortgage lending is stronger than ever and that our enhanced, streamlined loan processes are delivering real results for brokers.”

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