Paragon Bank has launched a Tailored service to support buy-to-let mortgage applications that fall outside its standard lending criteria.
The service is designed to give brokers a route for more complex landlord cases, reflecting the increasingly varied nature of buy-to-let portfolios and ownership structures.
Paragon said Tailored may be suitable for landlords seeking higher loan amounts, those with larger or more complex portfolios and cases involving non-standard ownership structures, including trusts or trading companies.
It can also support landlords with varied tenant types, applications outside typical age parameters and those with limited experience in the sector.
Applications will be reviewed by dedicated underwriters, who will consider the wider context of each case, including the landlord’s business structure, the property assets and the applicant’s portfolio strategy.
Brokers can access the service through Paragon’s intermediary portal by selecting Tailored as the application type within the buy-to-let journey.
They will be supported by their business development manager or by a dedicated Tailored underwriting team, which is available to discuss cases before submission and provide guidance as applications progress.
Paragon said the service also provides flexibility during the application process. Cases initially submitted under standard criteria may be assessed through the Tailored route if they no longer fit, while Tailored applications that meet standard criteria can be moved to the main range.
Louisa Sedgwick (pictured), managing director of mortgages at Paragon Bank, said: “The buy-to-let market continues to evolve, with landlords operating increasingly diverse and often more complex businesses. While many cases fit well within standard criteria, there are others where a more considered approach is needed to reflect the full picture.
“Tailored has been developed to give brokers a clear route for those applications that don’t quite align with conventional structures, supported by direct access to experienced underwriters who can take a holistic view of each case.
“By assessing applications on their individual merits, rather than applying a one-size-fits-all approach, we’re able to support brokers in placing a broader range of business, helping their landlord clients to progress with their investment plans.”
