Changes aim to help brokers place straightforward landlord cases faster
Paragon Bank has updated its buy-to-let mortgage application process, aiming to speed up approvals for landlords with up to 15 properties.
The specialist lender’s new system reduces the amount of documentation required from applicants meeting certain criteria. Using its recently launched mortgage origination platform, Paragon now auto-fills much of the necessary application data. In most cases, the bank will initially only request a property valuation and, if the landlord owns more than three BTL properties, a property schedule.
The streamlined application path applies to individual and limited company landlords with up to 15 properties, single self-contained units, up to 75% loan-to-value (LTV), and exposure to Paragon of up to £2 million.
The platform pulls data directly from sources such as Companies House, Experian and Hometrack, reducing manual input and improving accuracy. Once uploaded, documents are securely stored, allowing for smoother future applications.
The changes eliminate the need for most landlords to submit documents like payslips, tax returns, and rental bank statements. Limited company applicants are no longer required to upload two years of company accounts in many cases. However, all applications remain fully underwritten and additional documentation may still be required where necessary.
Paragon Bank reported a 25% year-on-year rise in new BTL lending for the six months ending March 2025, reaching £812.2 million. The lender’s total mortgage book increased by 4.5% to £13.7 billion, with BTL comprising the bulk of this growth. Its total loan book climbed to £16 billion, up 4.9% compared to the same period last year.
“Buy-to-let is in our DNA and we pride ourselves in our ability to evolve,” said Louisa Sedgwick (pictured), managing director of mortgages at Paragon Bank.
“We are known as specialists in complex buy-to-let, and we continue to excel in those more specialist propositions, but we are also here to support landlords with smaller portfolios or more simple requirements.”
Russell Anderson, commercial director of mortgages at Paragon Bank, added that the changes are designed to make business quicker and easier for brokers. “This will mean we can support the next generation of landlords who may be new to the market or have smaller portfolios with aspirations to grow,” he said.
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