Buy-to-let market update: June 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 28/05/2025.

Buy-to-let market update: -

BM Solutions – has reduced selected rates for buy-to-let and let-to-buy products. The lender has also reduced the minimum stress rate for two-year fixed, like for like remortgage applications to 5 per cent (previously 5.5 per cent) as well as reducing the minimum stress rate for all five-year fixed applications to 4.5 per cent (previously 5 per cent).

The Mortgage Works – has reduced rates by up to 0.3 per cent across selected buy-to-let and limited company mortgage products for new customers. Among the new business rates which have been reduced is a two-year fixed buy-to-let deal for purchase and remortgage at 2.79 per cent with a 3 per cent lender fee, available up to 65 per cent loan-to-value (LTV).

There is also a two-year fixed buy-to-let remortgage product at 3.29 per cent with a 3 per cent lender fee available up to 75 per cent LTV. This deal also includes a free valuation and free legals.

For landlords operating via limited companies, a two-year fixed rate at 4.14 per cent with a 3 per cent lender fee is now available for purchase and remortgage up to 75 per cent LTV. This product includes a free valuation.

The lender has updated its criteria for company landlords by removing the need for all mortgage applicants to be directors. The lender now accepts applications where one applicant is only a shareholder, who owns at least 20 per cent of the shares in the company.

Santander for Intermediaries – has increased buy-to-let two-and five-year fixed rates for purchase and remortgage products by 0.1 per cent.

TSB -  has reduced selected two-and five-year fixed rate buy-to-let products by up to 0.1 per cent up to 60 per cent Loan to Value (LTV). The lender has also increased 75 to 80 per cent LTV five-year fixed rate products by 0.2 per cent.

Coventry for Intermediaries – has launched limited company buy to let mortgages, available for both remortgage and purchase. The new offering allows for up to four directors/shareholders to be named on an application. Other criteria changes have also been implemented for landlord customers by increasing the maximum lending exposure to £2.5m (from £2m) and landlords can now have 7 properties with the society and the total portfolio limit has been increased to 15 properties.

Virgin Money - has increased selected buy-to-let fixed rate products by 0.1 per cent.

Paragon Bank – has launched new 75 per cent LTV five-year fixed rate products. Rates start from 4.34 per cent for single self-contained properties and 4.69 per cent for HMOs and multi-unit blocks, all of the products benefit from a free mortgage valuation. The lender has also reduced their five-year reference rate for single self-contained properties to 4.5 per cent. The lender has also launched 80 per cent LTV products for both purchase and remortgage.

Kent Reliance for Intermediaries – has reduced rates across all existing limited edition buy-to-let products, with two-year fixed reduced by 0.2 per cent, and five-year fixed reduced by 0.1 per cent. These are suitable for both HMO and non-HMO cases with a new minimum loan size of £100,000.

Precise – has reduced buy-to-let rates by up to 1 per cent. The lender is offering portfolio landlords rates starting from 4.14 per cent with new discounts for 55 per cent and 65 per cent LTVs for non-HMOs. There are simplified lender fee options of 2 per cent and 4 per cent and the lender is offering these terms for both two-and five-year fixes.

The Mortgage Lender (TML) - has reduced rates by 0.2 per cent on selected buy-to-let products.

Landbay – has reduced rates across selected buy-to-let products range by up to 0.8 per cent.

First-time landlord HMO/MUFB products, with rates across two-year options now start from 4.09 per cent.  In addition, trading company products have seen a 0.65 per cent rate cut also starting from 4.09 per cent.

Family Building Society – has reduced two-year fixed rate buy-to-let products by up to 0.15 per cent.

ModaMortgages – has reduced rates by up to 0.4 per cent on selected products in its standard range, with two-year fixed rates now starting from 3.19 per cent and five-year rates from 4.79 per cent.

The lender has also introduced specific small houses in multiple occupation (HMO) and multi-unit freehold block (MUFB) products, with prices starting from 3.29 per cent for two-year fixed rates and 4.89 per cent for five-year fixed rates.

The lender is now also accepting day one remortgages for bridge exit applications across its core and limited edition buy-to-let product ranges.

Vida Homeloads -  has reduced rates on its buy-to-let products by up to 0.5 per cent.

Aldermore Bank – has reduced rates on selected buy-to-let products. These include houses of multiple occupancy and multi-unit freeholds two-year fixed rates which have been lowered by up to 0.3 per cent and start from 3.69 per cent and come with 3 per cent and 5 per cent lender fee options.

Five-year fixed rates have been reduced by up to 0.35 per cent and start from 4.44 per cent and come with zero fee, 1.5 per cent, 5 per cent, 7 per cent and £1,999 lender fee options.

For individual and company landlords with single residential properties two-year fixed rates have reduced by up to 0.2 per cent and start from 3.49 per cent with no fee, 1.5 per cent, 3 per cent and 5 per cent lender fee options.

CHL Mortgages – has introduced free valuation products and reduced rates by up to 0.39 per cent. The free valuation option is available on selected products in both the lender’s CHL1 limited edition and CHL2 large HMO ranges. CHL1 offers products for a wide range of property types, from standard buy-to-lets to HMOs and multi-unit freehold blocks (MUFBs) of up to six bedrooms/units.

Foundation Homeloans – has announced a series of enhancements to its Property Plus range, including the acceptance of short-term lets (STL), rate reductions across the existing Plus range, and the removal of its £100,000 minimum loan size threshold.

Fleet Mortgages – has reduced rates across its five-year fixed-rate HMO and multi-unit block (MUFB) mortgage range, alongside the launch of a new £1,000 cashback incentive aimed at easing upfront costs for landlord borrowers.

Pepper Money – has returned to the buy-to-let market with a range of products.  The lender will consider limited companies and individual landlords with up to 10 properties in their portfolio, with rates starting from 4.99 per cent.

The lender’s landlord mortgages offer a loan to value of up to 80 per cent for properties with a current energy performance certificate rating between A to C, 75 per cent LTV for those with a D rating, and 70 per cent LTV where the rating is E.