Paragon Bank has included HMOs and MUFBs in its simplified BTL mortgage application process.
This simplified process is available to landlords with 15 or fewer properties, and designed to give them quicker and easier access to capital.
Paragon launched the streamlined service for single self-contained properties earlier this year, using its own mortgage origination platform to automatically pre-populate key application data.
This uses trusted sources including Companies House, Experian and Hometrack.
With document requirements also streamlined, the process is suitable for up to 75% LTV and up to £2m exposure with Paragon.
“This is a natural next step in the evolution of our proposition,” said Louisa Sedgwick, managing director of mortgages at Paragon Bank (pictured above).
“We’re proud of our heritage in complex BTL 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.”
