Paragon Bank has launched a new multi-property buy-to-let mortgage proposition, enabling landlords to apply for four or more properties through a single application.
The new initiative, introduced as the bank marks 30 years in buy-to-let lending, has been designed to streamline the process for portfolio landlords while offering greater flexibility and reduced costs.
The product allows landlords to select from Paragon’s full mortgage range for both purchase and remortgage, covering single self-contained units, houses in multiple occupation (HMOs), and multi-unit blocks (MUBs).
Properties included within a single application can complete at different times, and up to 99 properties can be added in total.
There are no application fees, including for HMOs and MUBs, saving £299 per property. Only one legal advice certificate is required across the application, rather than one per property, providing further cost efficiency.
Each application will be handled by a dedicated underwriter, offering brokers direct access throughout the process to ensure consistency and clear communication.
Russell Anderson, commercial director for mortgages at Paragon Bank, said: “Buy-to-let is in our DNA and we have been supporting landlords to build portfolios for decades.
“The launch of our multi-property proposition sets us apart from peers as it gives landlords a quick and cost-efficient way of adding a number of properties in one go, but the flexibility to manage those transactions individually.
“Landlords can mix and match from our product range across a number of property types. For example, they may want to select a flat fee product for larger loans, or a nil fee option for smaller mortgages; flexibility is the key.”
Louisa Sedgwick, managing director of mortgages at Paragon Bank, added: “This is a further example of our mortgages origination platform enabling us to enhance our proposition to deliver a better service for our customers.
“We launched a streamlined application process for landlords with 15 or fewer properties earlier this year, so the launch of our multi-property proposition builds on that momentum.
“I’m really excited about some of the innovations we have in the pipeline as we evolve our business.”
The new multi-property proposition follows the introduction of Paragon’s bespoke mortgage origination platform earlier this year, which is designed to re-engineer product, process and service delivery to meet the needs of portfolio landlords more efficiently.
