Buy-to-let market update: October 2026

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. Note, any product update reflects the lenders most recent update, rather than all updates since the previous publication. The information within this article is correct as at 15/10/2026.

Buy-to-let market update

BM Solutions – has updated their personal ownership buy-to-let and let-to-buy range, products at 65 per cent and 75 per cent LTV will be combined into a single 0-75 per cent LTV band, with 0-65 per cent LTV products withdrawn.

The lender has also updated their self-employed Income evidence and for all applications that have been fully submitted from Tuesday 6 October 2026. The latest tax calculations and tax year overviews must be for tax year 2025/2026.

The Mortgage Works – has made selected rate increases and reductions across its new business range. New business fixed rates start from 3.49 per cent, while tracker rates start from 3.99 per cent. The lender has advised all trackers will include a switch-to-fix option.

The lender has also made enhancements to its application process to broaden support for landlords including age criteria and maximum total borrowing. The lender has increased the maximum age at application for first-time landlords from 70 to 75, up to 70 per cent loan-to-value (LTV). There is also no maximum age for experienced landlords applying up to 70 per cent LTV, up from 65 per cent LTV.

In addition, the maximum total borrowing a landlord can hold across all mortgages with the Nationwide Group has increased from £7.5 million to £10 million.

NatWest – has decreased selected buy-to-let new business rates, including their two-year fixed rate purchase at 75 per cent loan-to-value (LTV), which has decreased by 0.43 per cent to 4.16 per cent, with a lender fee of £3,999.

HSBC -  has decreased rates across selected two-year and five-year buy-to-let remortgage products.

Accord Mortgages -  has decreased rates on its buy-to-let range, supporting landlords with smaller deposits. The biggest changes affect selected products available for house purchase up to 80 per cent LTV and include reductions of up to 0.43 per cent on two-year fixes, with five-year rates decreasing by up to 0.23 per cent.

For landlords with a 25 per cent deposit or more, rates have decreased by up to 0.07 per cent on two-year fixes and by up to 0.04 per cent on five-year rates.

The lender has increased their Income Coverage Ratio Rate (ICRR) used to assess background buy-to-let properties from 5 per cent to 5.25 per cent. The lender has also reduced the background buy-to-let ICR to 125 per cent (down from 145 per cent), where the lender can verify that the applicant is a basic-rate taxpayer.  Higher-rate taxpayers will continue to be assessed using a 145 per cent ICR.

Santander – has decreased selected buy-to-let purchase and remortgage rates with a £1,749 lender fee by up to 0.16 per cent, now starting from 4.89 per cent.

Paragon Bank – has launched new buy-to-let fixed rates, two-year fixed rates now start from 3.80 per cent and five-year fixed rates now start from 4.80 per cent, at the same time, selected five-year fixed rates will have no early repayment charge in year 1 and 3 per cent in years 2,3,4,5.

The lender has also updated the rates on the shared exclusive range of products for NRLA members. These selected products have a reduction of 0.25 per cent on the lender completion fee when compared to the lender core range.

Family Building Society –has repriced an NRLA member exclusive product, a five-year fixed rate for limited company applications with a rate of 6.39 per cent and a 1 per cent lender completion fee. This product has no lender application fee, saving the member £175 when compared to the lender core product.

Rely – Part of the OSB Group has launched new limited-edition buy-to-let fixed rates, one- year fixed rates start from 2.85 per cent, two-year fixed rates start from 3.59 per cent, and five-year fixed rates start from 4.55 per cent with different lender fee options available.

Landbay – has expanded its buy-to-let (BTL) tracker mortgage range with the launch of 11 new products while reducing rates on selected existing tracker deals by up to 0.15 per cent. The new products have been added across its core, premier and small house in multiple occupation (HMO) ranges.

Amongst the new additions are premier like-for-like and premier like-for-like automated valuation model (AVM) two-year trackers at 75 per cent loan to value (LTV), with rates starting from bank base rate (BBR) plus 0.34 per cent. Designed for landlords refinancing without additional borrowing, both products are available without early repayment charges and benefit from a reduced stress rate of 4.5 per cent or pay rate, which can improve affordability.

Foundation – has launched two buy-to-let F1 limited-edition remortgage-only products at 75 per cent LTV. The new products include a F1 limited-edition two-year fixed remortgage only product at 75 per cent LTV, with a rate of 4.99 per cent, a 4 per cent lender fee, one free standard valuation, £250 cashback and no application fee.

In addition, it has launched a F1 limited-edition five-year fixed remortgage only product at 75 per cent LTV, with a rate of 5.84 per cent, a 5 per cent lender fee, one free standard valuation, £250 cashback and no application fee.

In addition, the lender has reduced rates on selected buy-to-let mortgages by up to 0.1 per cent and amended its holiday-let lending criteria to allow owners to occupy their properties for up to 60 days a year.

The lender has also launched a semi exclusive product available through selected partners including NRLA Mortgages/3mc. The product is a five-year fixed rate with early repayment charges in the first three years only.

Aldermore Bank -  has increased selected buy-to-let fixed rates by up to 0.17 per cent, two- year fixed rates now start from 4.11 per cent, and five-year fixed rates now start from 5.21 per cent.

ModaMortgages – has launched a limited-edition range of two- and five-year fixed rate products. The limited-edition range features two-year fixed rates from 4.14 per cent and five-year fixed rates from 5.14 per cent.

It includes products suitable for single dwelling properties, as well as houses of multiple occupancy and multi-unit freehold buildings with up to six bedrooms or units.

The limited-edition range features no application or valuation fees. Products are available to both individual and limited company landlords up to 80 per cent LTV, with a variety of lender fee structures to choose from.

CHL Mortgages – has launched a range of limited-edition two-and five-year fixed rate products alongside a number of criteria enhancements. The new limited-edition range features products suitable for single dwelling properties and HMOs and MUFBs with up to six bedrooms or units, with rates starting from 3.6 per cent. The range is available to individual and limited company landlords up to 80 per cent LTV with a choice of lender product fee options.

In addition, enhancements have been made on a number of key criteria elements, with the lender now accepting applications for first-time buyers. Other changes include the removal of the minimum income requirement for non-first-time buyers, a reduction in minimum property valuations, and increasing the maximum number of storeys in blocks of flats, including ex-local authority blocks, to 20.

United Trust Bank – has updated their buy-to-let range and rates now start from 4.19 per cent on a standard range two-year fixed and 5.99 per cent on a standard range five-year fixed, with loans available from £50,000 to £1.5 million and up to a maximum of 80 per cent LTV.

LendInvest – has overhauled its buy-to-let (BTL) tracker mortgage range by removing early repayment charges (ERCs), decreasing rates and increasing maximum loan-to-value (LTV) limits.

Shawbrook - has decreased rates on selected buy-to-let products, including reductions of up to 0.25 per cent on larger loans.

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.