Paragon Bank has expanded its streamlined buy-to-let mortgage application process to cover houses in multiple occupation and multi-unit blocks, aiming to ease the path for landlords with 15 or fewer properties.
The lender said the enhancement builds on the version introduced in the summer for single self-contained units and reflects rising demand for higher-yielding property types.
The process is underpinned by Paragon’s mortgage origination platform, launched in March, which automatically pre-populates key information from trusted sources such as Companies House, Experian and Hometrack. The bank said this reduces document requirements and creates a smoother experience for brokers and landlords.
The enhanced journey applies to individual and limited company landlords with up to 15 properties. It supports lending up to 75% LTV and exposure of up to £2 million with Paragon.
For qualifying cases where the valuation is undertaken by the lender, brokers are only required to provide a property schedule, and only when borrowers hold four or more buy-to-let assets.
In most scenarios, there is no need for brokers to upload payslips, tax returns or bank statements, and limited company applicants are not asked to supply two years of accounts upfront. Paragon said all applications continue to be fully underwritten, with further documentation requested only when needed.
Louisa Sedgwick (pictured), managing director of mortgages at Paragon Bank, said: “This is a natural next step in the evolution of our proposition. 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.”
Russell Anderson, commercial director for mortgages, added: “This development is part of our ongoing strategy to enhance our offering and support the next generation of landlords.
“By making it easier for these landlords to place more specialist business with us, we’re broadening our reach while continuing to support the more experienced and larger scale landlords we’re known for working with.”
