More buy to let lenders expand landlord options

Paragon Bank is among lenders updating their buy to let ranges, alongside Landbay, Atom bank and Fleet Mortgages, with new fixes, trackers and remortgage deals entering the market.

Paragon has introduced six limited edition five-year fixed products, all carrying a flat £3,995 fee and available up to 70% LTV.

Three cover loans up to £1m, while three extend to £4m depending on structure and portfolio size.

Rates begin at 5.67% for single self-contained homes rated EPC A to C, rising slightly for lower-rated stock.

Larger BTL loans

For larger BTL loans above £1m, pricing starts at 5.79%and there are separate deals for HMOs and multi-unit blocks come in at 5.92% and 6.04% respectively.

There is also a return to higher leverage with an 80% LTV five-year fix is back, starting at 6.60% for stronger EPC-rated property, this time with no fee attached.

Jason Wilde, Paragon’s head of mortgage sales, said: “With loans available at up to £4 million with a flat £3,995 fee, as well as an 80% LTV option with nil fee, these products will particularly appeal to landlords who want to invest in higher value properties.”

Landbay expands Premier BTL range

Landbay has expanded its Premier BTL range with new small HMO remortgage options at 70% LTV.

The products target properties of up to six bedrooms and come with tiered pricing linked to fee levels.

Rates are set at 4.84% with a 5% fee, 5.24% with a 3% fee and 5.64% with a 1% fee.

Valuation costs are now fixed, ranging from £750 plus admin for lower-value homes to £2,150 plus fees for assets approaching £2m.

Rob Stanton, Landbay’s sales and distribution director, said: “These new remortgage products are designed to give brokers a broader range of options when supporting landlord clients, with pricing and fee structures that can be matched to different financial priorities.”

Atom lowers minimum loan

For those wanting a commercial loan, Atom bank has cut its minimum loan size again, this time to £100,000.

The move follows an earlier reduction to £200,000 and targets smaller borrowing requests often declined by high street lenders.

More than half of brokers on its panel report at least a quarter of enquiries fall between £100,000 and £250,000.

Alongside this, the bank has reduced rates for new applications by up to 0.94%, with smaller average cuts across trading and investment cases.

The lender says improved processing speeds are supporting the shift, with application to Agreement in Principle typically taking one working day and offers now averaging five.

The lender’s head of business, Tom Renwick, said: “We know that there are very few other lenders supporting businesses at these lower loan sizes, and as a start-up and challenger to the high street ourselves, we want to be able to make a difference where it matters.”

Fleet unveils new BTL trackers

Meanwhile, Fleet Mortgages has launched three two-year tracker deals at 75% LTV across its standard, limited company and HMO or MUFB ranges.

Pricing starts at Bank Base Rate plus 0.75%, currently 4.5%, with the HMO version at 5.15%.

All come with a 2% completion fee and no early repayment charges, reverting to Bank Base Rate plus 3% at the end of October 2028.

Steve Cox, Fleet’s chief commercial officer, said: “By removing ERCs, we are allowing borrowers to benefit from a competitive tracker rate today, while retaining the ability to switch products as market conditions evolve.”

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