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. Note, any product update reflects the lenders most recent update, rather than all updates since the previous publication. The information within this article is correct as at 10/04/2026.

Buy-to-let market update: –

BM Solutions – has increased selected BTL and let-to-buy (LTB) fixed rates. Personal ownership BTL and LTB two-year fixed rates have increased by up to 0.15 per cent and three-year rates by up to 0.10 per cent.

The Mortgage Works – has increased selected BTL fixed rates, their one-year fixed rate is priced at 3.34 per cent, two-year fixed rates start from 3.44 per cent and their five-year fixed rates start from 4.44 per cent.

Coventry for Intermediaries – has decreased selected limited company BTL products by up to 0.25 per cent. For limited company BTL borrowers purchasing a property, the two-year fix at 75 per cent loan to value (LTV) with a £3,999 lender fee has a rate of 5.52 per cent, while the five-year fixed equivalent is priced at 5.58 per cent.

Virgin Money – has increased BTL fixed-rate products by up to 0.75 per cent.

NatWest – has increased BTL fixed-rate products by 0.28 per cent.

Santander for Intermediaries – has increased BTL affordability rates, with the standard rate increasing from 7 per cent to 7.5 per cent, the five-year fixed rate has increased from 5 per cent to 5.5 per cent, and the pound-for-pound remortgage rate has risen from 5 per cent to 5.5 per cent. All BTL fixed rates have increased by up to 0.41 per cent.

Barclays – has introduced a new “dynamic” stress testing process for BTL, which is based on customers’ actual product rate and should allow many to borrow more. The lender also will now allow portfolio landlord applications for standard products across their BTL purchase and remortgage range.

TSB – has launched portfolio BTL lending for landlords with up to 10 mortgaged properties. Landlords will be able to borrow up to 75 per cent of the property value, with a minimum loan of £25,000 and a maximum loan of £1 million. Landlords will be able to have up to five BTL mortgages with TSB, and the initiative is open to landlords for both house purchase and remortgage applications. The lender has also increased all BTL purchase and remortgage fixed rates by 0.5 per cent.

Accord Mortgages – has increased their BTL tracker products by 0.2 per cent.

Paragon Bank – has bolstered its new-build BTL product to give landlords more flexibility when investing in new-build properties.

BTL mortgage offers are now valid for six months for landlords purchasing new-build homes, up from three months.

The lender has launched new limited-edition five-year fixed-rate products. This range includes green EPC flat lender fee-rate products with rates from 5.67 per cent. All of these products benefit from a free mortgage valuation.

The lender has also announced the launch of new two-year and five-year fixed-rate products. With rates starting from 3.75 per cent for single self-contained properties, and 4 per cent for Houses in Multiple Occupation (HMOs) and multi-unit blocks, all of these products benefit from a free mortgage valuation.

Landbay – has launched a number of its Premier range products into Scotland, following a successful initial phased launched. The range of 75 per cent LTV products is now available to the whole of market with all broker firms able to offer standard, like-for-like remortgage, remortgage with a free valuation, and remortgage with a free valuation and cashback options to landlord clients.

The lender has introduced new small HMO and remortgage automated valuation model products to its Premier range.

Foundation – has launched a series of limited-edition BTL deals across its F1, HMOs and holiday let ranges. Within its F1 range – designed for landlord borrowers with an almost clean credit history – Foundation has launched two- and five-year fixed-rate products at rates of 5.59 per cent and 5.99 per cent respectively, and both products come with a flat lender fee of £3,995.

The lender has also relaunched various BTL products covering standard mortgages, as well as key property types including HMOs, MUFBs, short-term lets, expats and both Property and HMO Plus options. Selected changes have also been made to fees on five-year fixed-rate products, including a reduction on standard HMO products.

Aldermore Bank – has launched new BTL fixed rates, two-year fixed rates start from 4.19 per cent and five-year fixed rates start from 5.44 per cent.

Vida Homeloans – Will now allow intercompany loans as a source of a deposit for BTL special purpose vehicle (SPV) applications, where the applicant is an equal or majority shareholder in the trading company offering the funds. The lender has also increased its aggregate exposure limit from £4m to £7.5m. The lender has also decreased selected BTL fixed rates by up to 0.29 per cent, two-year fixed rates will now start from 4.97 per cent and five-year fixed rates will now start from 5.22 per cent.

Shawbrook Bank – has updated its criteria and simplified its process to make it easier for property investors to fund properties let to operators of social housing. This includes Shawbrook’s complex BTL and structured real estate products, with loans from £50,000 to £50m and rates starting from 4.79 per cent. These support a range of residential assets including single units, HMOs and multi-unit freehold blocks up to 10 units as individual loans or as part of a larger portfolio facility. Properties will be assessed on the same basis as if let in the private rented sector, and this includes the use of automated valuation models for eligible securities.

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.

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