Buy to let mortgage rates shift across lenders

Landlords looking for buy  to let mortgage deals are being offered lower rates, fresh fee structures and faster turnaround options across a wave of lender updates.

Paragon Bank has launched a limited edition 60% LTV range spanning single lets, HMOs and multi-unit blocks, while several other lenders have cut pricing or introduced new deals.

The products include two- and five-year fixes, with rates for single self-contained homes starting at 4.35% on properties rated EPC A to C, rising by 5bps for less efficient stock.

HMO and MUB borrowing begins at 4.60% and landlords can choose between a 3% fee or no-fee structure, with availability across personal and limited company borrowing.

Paragon’s lower LTVs

Applications for single lets carry no application fee, while HMOs and MUBs are subject to a £150 charge.

Interest coverage ratios are assessed at the initial rate plus two percentage points.

The lender’s multi-property proposition allows a single application across portfolios of four to 99 properties, requiring only one legal advice certificate.

Paragon’s product manager, James Harrison, said: “We continue to see demand from landlords who are choosing to borrow at lower LTVs.

“We’ve responded by extending our 60% LTV offering across SSC, HMO and MUB properties, while giving landlords the flexibility to choose between 3% and nil-fee structures.”

Foundation cuts BTL rates

Foundation has cut pricing across most of its buy to let products by up to 25bps, with rates now starting at 5.14%.

Adjustments cover F1, F2 and F3 tiers, including standard, HMO and specialist segments such as holiday lets and expat borrowing.

The lender’s director of sales, Grant Hendry, said: “The wider reductions of up to 25 basis points across buy to let mean advisers have a strong set of options across the board, whether they’re working on straightforward cases or more complex specialist scenarios.”

HSBC unveils best pick

HSBC has reduced selected two-year fixed buy to let rates by up to 0.34%, with a 75% LTV deal now priced at 5.35% until 31 May 2028.

The product carries no fee, includes a free valuation and permits overpayments.

It is Moneyfactscompare.co.uk’s pick of the week for BTL deals and the platform’s personal finance analyst, Caitlyn Eastell, said: “The deal now charges 5.35% until 31 May 2028 and may be an attractive option for landlords looking to save on upfront costs as it does not have any product fees and comes with a free valuation incentive.

“Overpayments are also permitted, which may be a bonus for some.”

Fleet also lowers rates

Fleet Mortgages has reduced two-year fixed rates across its 75% LTV range by 20bps, with standard and limited company products now at 4.29%.

Its HMO and MUFB equivalent has been cut to 4.59%, including £1,000 cashback.

Tracker products launched recently remain available at Bank Base Rate plus 0.75% for standard and limited company lending, currently priced at 4.5%, while HMO and MUFB trackers are set at BBR plus 1.4%, or 5.15%.

The lender’s chief commercial officer, Steve Cox, said: “At the same time, maintaining a broad spread of options across standard, limited company and HMO/MUFB lending is key.

“Different landlord borrowers will have different priorities, whether that’s certainty of payment or flexibility.”

Coventry reduces BTL rates

Coventry for intermediaries has reduced selected limited company buy to let rates by up to 20bps, including a 5.61% five-year fix at 75% LTV with no fee, and a 6.06% two-year equivalent.

Its head of intermediary relationships, Jonathan Stinton, said: “Limited company buy to let continues to be a key area of demand for brokers, so we’re pleased to be able to offer more competitive options across the range. These new rates will help brokers support their landlord clients with greater flexibility and confidence.”

Rely’s quick remortgaging case

Rely has announced that it has completed a remortgage case in 6.5 working days, from the application through to completion and release of funds for a refurbished residential property transitioning from bridging finance.

Adrian Moloney, the group lending distribution director, said “Although the client is an experienced landlord with 12 properties in their portfolio, this application related to a single residential buy to let property, demonstrating our expertise across all landlord types, from first time landlords to portfolios.”

YBS Commercial Mortgages is ‘Best’

YBS Commercial Mortgages has been named ‘Best Service from a Commercial Mortgage Provider‘ at the 2026 Business Moneyfacts Awards.

The award is based on product monitoring and broker feedback.

Angela Norman, the lender’s managing director, said: “We have spent the past year focussing on strengthening the business to support sustainable growth areas where we could have the biggest impact, blending digital innovation with the human touch and creating a customer experience which is faster, smoother and more supportive.”

For assistance with any type of buy to let (BTL), property or commercial finance please complete the contact form below: