Buy-to-Let Market Update - April 2025

Welcome to ‘Buy-to-Let Market’, a column aimed at providing you with recent criteria and product updates within the buy-to-let lending markets. The information within this article is correct as at 28/03/2025.

Buy-to-let market update: -

The Mortgage Works – has reduced rates by up to 0.3 per cent across selected buy-to-let products for new customers with rates starting from 3.24 per cent. A two-year fixed, remortgage only, at 4.84 per cent, with no lender fee, is now available up to 65 per cent LTV.

Santander for Intermediaries – has reduced their buy-to-let affordability rates. Under the new affordability rules, standard buy-to-let affordability rates are down from 7.15 per cent to 6.99 per cent. Five-year fixed rates and pound-for-pound remortgages will now be assessed at a rate of 4.99 per cent, down from 5.15 per cent. All buy-to-let purchase two-year fixed rates from 60 per cent to 75 per cent LTV have reduced by up to 0.1 per cent, and all BTL remortgage two-year fixed rates at 60 per cent LTV have reduced by 0.05 per cent.

BM Solutions – has reduced rates by up to 0.33 per cent for selected buy-to-let and let-to-buy products. The lender has also increased rates on selected five-year fixed remortgage products by up to 0.31 per cent.

TSB – has reduced selected two-and five-year fixed rate buy-to-let products by up to 0.1 per cent.

Coventry for Intermediaries – has reduced selected fixed rate buy-to-let products.

HSBC – has introduced premier only two- and five-year fixed fee paying and fee saver buy-to-let (BTL) products at 60 per cent, 65 per cent and 75 per cent loan-to-values (LTVs) across their purchase, remortgage and existing customer range.

Virgin Money – has launched a range of new buy-to-let products. Two- and five-year fixed rates with a £2,195 lender fee have been reduced by up to 0.23 per cent, now starting from 4.26 per cent.

Five-year fixed rates with a 3 per cent lender fee have been reduced by up to 0.17 per cent, now starting from 3.82 per cent. 60 per cent and 75 per cent LTV five-year fixed rates with 1 per cent lender fee have been reduced by up to 0.13 per cent, now starting from 4.26 per cent. The 75 per cent LTV Retrofit Boost five-year fixed rate with a £1,995 lender fee have been reduced by 0.14 per cent, now starting from 4.93 per cent.

Accord Mortgages – has reduced rates across to its buy-to-let product range by up to 0.15 per cent. Three-year fixed rates are reduced by up to 0.1 per cent, and for those looking for a two-year tracker option, rates are also reduced by up to 0.15%. The lender has also reduced lender fees from £3,495 to £1,995 on selected three-year fixed rates.

Paragon Bank – has launched a shared exclusive range of products which is available to NRLA members. The range is aimed at landlords and developers investing in single self-contained (SSC), houses in multiple occupation (HMOs) and multi-unit blocks (MUBs). The range offers members access to two-year fixed and five-year fixed rates, on the Paragon 75 per cent LTV range. All semi-exclusive two-year fixed rate products offer a free valuation and no lender application fee (usually £299 on Paragon core range products). The five-year fixed rate product offers a free valuation, £750 cashback and a £2,995 lender fee (usually £3,995 on Paragon core range products).

Landbay – has announced rate reductions of 0.1% across its limited-edition small HMO/MUFB products. The five-year fixed rate products now start at 4.99 per cent at up to 75 per cent LTV.

The Mortgage Lender (TML) – has increased their First Time Landlord maximum loan from £350,000 to £500,000 and launched a new 80 per cent LTV product for landlords. The lender has also reduced a number of rates across their buy-to-let range by up to 0.15 per cent.

Kent Reliance for Intermediaries – has reduced rates on two- and five-year fixed, variable fee limited edition buy-to-let products. Limited-edition rates on two-year fixed products start from 3.69 per cent with five-year fixed products starting from 4.39 per cent.

Fleet Mortgages – has launched a new range of five-year fixed rate products, available up to 55 per cent LTV, for standard, limited company and HMO/multi-unit block landlord borrowers. Standard/limited company rates start from 4.79 per cent with a 3 per cent lender fee and 5.34 per cent with a fixed £999 lender fee. HMO/multi-unit block rates are available at 5.19 per cent with a 3 per cent lender fee and 5.74 per cent with a fixed £999 lender fee.

The standard and limited company products come with a free valuation for properties up to a value of £500,000, with a minimum loan of £25,000 and a maximum loan of £750,000 on the fixed-fee products.  

Family Building Society – has reduced two-year fixed rate buy-to-let products by up to 0.1 per cent.

Birmingham Bank – has reduced rates across their standard buy-to-let products by 0.09 per cent. Rates now start from 2.15 per cent.

Dudley Building Society – has launched a range of products including buy-to-let and holiday let products which are available from 5.38 per cent and up to 80 per cent LTV.

Vida Homeloans - has reduced rates on its buy-to-let products by up to 0.54 per cent. Among the changes, a limited edition BTL two-year fixed rate at 75 per cent LTV with a 4 per cent lender fee has reduced by 0.32 per cent to 3.94 per cent. The equivalent product for houses in multiple occupation (HMO) and multi-unit block (MUB) borrowers has reduced by 0.25 per cent to 4.11 per cent.

Furthermore, a five-year fixed rate BTL deal at 85 per cent LTV with a 2 per cent lender fee has reduced by 0.5 per cent to 6.49 per cent. The lender has also expanded its list of accepted Scottish postcodes, now including 14 additional postal codes.

Allica Bank – has announced they have entered the buy-to-let residential market and plans to lend £100m to landlords before the end of the year.  The small business-focused lender says its new service is aimed at professional real estate investors and intends to fund residential BTL portfolios, houses in multiple occupation and multi-unit freehold blocks.

CHL Mortgages – has reduced rates across its short term lets range by 0.3 per cent. The range features two-year fixed rate products starting from 4.09 per cent and five-year fixed rate products starting from 4.94 per cent, available up to 75 per cent LTV. The products come with varying lender fee options.

LendInvest Mortgages – has reduced rates by up to 0.25 per cent across their buy-to-let products. Reductions include 0.25 per cent on five-year holiday let products and a 0.20 per cent reduction on all of the lender’s two-year fixed term products. In addition, the lender has reduced selected five- and seven-year BTL products by 0.05 per cent.

United Trust Bank Mortgages – has reduced rates across its buy-to-let mortgage product range by up to 1.76 per cent. The range includes five-year fixed rates for single dwelling AST products starting from 4.99 per cent and HMOs/MUBs from 5.29 per cent.

Zephyr Homeloans – has reduced rates on its two and five-year mortgage products by up to 0.36 per cent. 

Quantum Mortgages – has reduced all Single Unit and Multi Unit Range fixed rates by 0.25 per cent. For Larger Loans and First Time Landlord products, rates have been reduced by 0.3 per cent.

For further information on buy-to-let mortgages both for individuals and limited companies please contact NRLA Mortgages on 0161 341 0581 or visit the NRLA website https://www.nrla.org.uk/services/mortgages.

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.

NRLA Mortgages is a trading name of LPTE Limited which is an Introducer Appointed Representative of 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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