Paragon Bank has expanded its simplified buy-to-let (BTL) mortgage application process to houses in multiple occupancy (HMOs) and multi-unit blocks (MUBs).
The improved process is suitable for individual landlords and corporate landlords with up to 15 properties, as well as individual self-contained units, HMOs and MUBs.
Products are available with loan-to-value (LTV) up to 75% and exposure up to £2m with Paragon.
The bank launched its new service for detached homes this summer, with this expansion also enabling landlords with more complex real estate needs to benefit from it.
For eligible applications, where Paragon carries out the valuation, agents now only need to provide a property overview and this only applies if borrowers own four or more BTL properties.
Louisa Sedgwick, mortgage director at Paragon Bank, said: “This is a natural next step in the evolution of our proposition. We are proud of our heritage in complex buy-to-let lending, and this improvement means landlords can now access that expertise through a much simpler and faster application process.”
“HMOs and MUBs are becoming increasingly attractive to landlords looking to maximize returns, and we want to make it easier for those new to these property types to get started and grow.”