Buy-to-let market update

By Doug Hall, director, 3mc

Welcome to ‘Buy-to-let market’, a column aimed at providing you with recent criteria and product updates within the buy-to-let (BTL) lending markets. The information within this article is correct as at 29/01/2026.

Buy-to-let market update:

BM Solutions – has decreased selected BTL and let-to-buy (LTB) fixed rates by up to 0.12 per cent. At the same time, they have also reduced their limited company BTL products by up to 0.14 per cent.

The Mortgage Works – has decreased BTL rates by up to 0.2 per cent on a selection of fixed rates.

The lender’s one-year fixed rate purchase and remortgage deal with a 2 per cent lender fee and available up to 75 per cent loan to value (LTV) is priced at 2.29 per cent, a decrease of 0.2 per cent.

Its two-year purchase and remortgage fixed rate with a 3 per cent lender fee up to 65 per cent LTV has decreased by 0.1 per cent to 2.49 per cent.

Their two-year fixed remortgage-only rate with 2 per cent lender fee up to 75 per cent LTV has decreased by 0.03 per cent to 2.84 per cent. It also comes with free valuation and free legal.

Their five-year fixed remortgage-only rate with a 3 per cent lender fee up to 75 per cent LTV has decreased by 0.1 per cent to 3.57 per cent. It is subject to free valuation and free legal.

Coventry for Intermediaries – has introduced a new range of products designed to reward landlords who invest in energy-efficient properties. Available for both BTL and limited company BTL landlords, the products offer lower rates for properties with an energy performance certificate (EPC) rating of A, B or C. Coventry will verify a property’s rating using the official government EPC register and for new-build purchases, landlords will need to provide a predicted energy assessment (PEA). The products are available for both purchase and remortgage applications.

Virgin Money – has decreased BTL rates by up to 0.21 per cent, with 60 per cent LTV two-year fixes starting from 3.87 per cent with a £2,195 lender fee or 3.89 per cent with a 1 per cent lender fee.

At 75 per cent LTV, two-year fixed rates now start from 3.87 per cent and five-year rates from 4.1 per cent, both with a £2,195 lender fee.

NatWest – has decreased selected BTL rates by up to 0.11 per cent on selected purchase and remortgage deals on two- and five-year terms from 60 per cent to 75 per cent LTV. This includes its two-year fixed rate remortgage rate at 75 per cent LTV with a £3,499 lender fee reducing from 3.6 per cent to 3.49 per cent.

Santander for Intermediaries – has decreased selected BTL rates. For BTL remortgage, all 60 per cent, 65 per cent and 75 per cent LTV two-year fixed rates have been cut by up to 0.04 per cent, while all 60 per cent and 65 per cent LTV five-year fixed rates have been trimmed by up to 0.04 per cent.

Leeds for Intermediaries – has decreased selected BTL and portfolio BTL rates by up to 0.08 per cent.

TSB – has decreased mortgage rates across selected BTL products. The bank’s two- and five-year fixed BTL purchase, and remortgage rates have been reduced by up to 0.35 per cent. Pricing now starts at 3.79 per cent for a BTL two-year fixed purchase product up to 60 per cent loan to value (LTV) with a £1,995 lender fee, 4.09 per cent with a £995 lender fee and 4.29 per cent with no lender fee. The five-year fixed equivalents have rates of 3.99 per cent, 4.09 per cent and 4.19 per cent respectively.

Accord Mortgages – has enhanced its top slicing criteria to accept first-time landlords subject to applicants having a minimum (single or joint) household income of £75,000 (excluding rental income).

The change allows first-time landlords the flexibility to use personal income to bridge any shortfall between the mortgage they need and their rental income (known as top slicing).

Accord has also reduced the minimum income for top slicing to £40,000 (was £50,000) for experienced landlords.

Paragon Bank – has expanded its BTL mortgage offering with the launch of six new two-year bank base rate tracker products. The new products, available at up to 75 per cent LTV, sit alongside Paragon’s existing five-year bank base rate tracker mortgages and are designed to give landlords greater flexibility.

The two-year deals are not subject to early repayment charges, allowing borrowers to switch or redeem at any point during the term without penalty.

Rates start from 5.1 per cent, equivalent to bank base rate plus 1.35 per cent, for single self-contained properties. For landlords borrowing against Houses in Multiple Occupation (HMO) or multi-unit blocks (MUBs), pricing starts from 5.45 per cent, or bank base rate plus 1.7 per cent.

Landlords can choose from three lender fee options of 0.75 per cent, 1 per cent or 1.5 per cent. The products are available for both purchase and remortgage, with interest coverage ratios calculated at the product’s initial rate plus two percentage points.

In line with Paragon’s recently launched five-year bank base rate tracker products, the two-year range includes free valuations across all property types and no application fees for single self-contained properties. Applications for HMOs and MUBs carry a £299 fee.

The lender has increased its maximum loan limits across its range of BTL mortgages, as well as removing minimum income requirements for portfolio landlords, to provide further support and flexibility to landlords.

The lender has also updated the shared exclusive range of products for SAL members. These selected products are 0.1 per cent cheaper when compared to the lender core range.

Foundation – has launched semi exclusive BTL products for first-time buyer/first-time landlords. The semi exclusive criteria are available through 3mc and SAL Mortgages. Fixed rates start from 5.84 per cent, are available up to 75 per cent LTV and have a lender fee of 1.5 per cent.

Aldermore Bank – has launched new zero fee, limited-edition mortgage products for landlords.

The new fee-free BTL range includes a two-year fixed rate at 5.39 per cent and a five-year fix at 5.22 per cent, available up to 75 per cent LTV.

For portfolio landlords, a two-year fix has launched at 5.34 per cent and a five-year fix at 5.17 per cent.

Shawbrook Bank – has decreased rates across its SB1 specialist BTL range, with cuts of up to 0.5 per cent on selected products for single let, HMO and MUFB properties.

For further information on BTL mortgages both for individuals and limited companies please contact SAL Mortgages on 0131 450 7169 or visit the SAL website www.scottishlandlords.com

Please note lenders have different minimum criteria requirements and not all landlords and property types will qualify for a specific product. The product rates are correct at the time of writing the article and are subject to change.

This is an advertisement only and in no way should be viewed as a personal recommendation or advice. Before a recommendation of the suitability of the product can be given, we will direct you to 3mc (UK) Limited who can provide specialist mortgage advice. As part of this they will ask questions so that they can fully understand your circumstances before giving advice.

SAL Mortgages is operated exclusively for the Scottish Association of Landlords (SAL) by 3mc (UK) Limited who is Authorised and Regulated by the Financial Conduct Authority and is entered on the FS Register under reference 302992.

Please note: 3mc can advise/arrange Business Buy to Let (BBTL) and Consumer Buy to Lets (CBTL). Of the two, only Consumer Buy to Lets are regulated by the FCA.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

ANY PROPERTY USED AS SECURITY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

All calls are recorded for training and monitoring purposes.