Buy-to-let market update: August 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 14/08/2026.

BM Solutions – has decreased selected fixed rates on personal ownership buy-to-let (BTL) and let-to-buy products. Purchase rates within the range have decreased by up to 0.13 per cent. Remortgage prices have decreased by up to 0.12 per cent.

The Mortgage Works – has increased selected buy-to-let fixed rates, two-year fixed rates now start from 3.44 per cent and five-year fixed rates will now start from 4.22 per cent.

The lender has also improved their property concentration criteria for flats and maisonettes, where the landlord is not the freeholder, or only owns a share of the freehold.

Coventry for Intermediaries – has decreased all buy-to-let fixed rate products. The lender has also introduced a 5.1 per cent five-year fixed-rate mortgage at 75 per cent loan-to-value, fixed until 31 December 2031, with a £1,999 lender fee. It is available for limited company buy-to-let remortgages on properties with an energy performance certificate rating of A to C.

NatWest – has decreased selected fixed rate buy-to-let products by 0.22 per cent. Two-year fixed rates now start from 3.93 per cent and five-year fixed rates now start from 4.48 per cent.

HSBC – has decreased rates on selected buy-to-let remortgage products at 60 per cent, 65 per cent and 75 per cent LTV. Reductions have also been made to buy-to-let products for properties with an A or B energy performance certificate.

Accord Mortgages – has decreased its two and five-year buy-to-let remortgage products up to 75 per cent LTV by up to 0.18 per cent.

Santander – has decreased all buy-to-let fixed rate products by up to 0.13 per cent. Two-year fixed rates now start from 4.57 per cent and five-year fixed rates now start from 4.61 per cent.

Paragon Bank – has refreshed its buy-to-let mortgage range, with rates now starting from 3.55 per cent and products available at up to 80 per cent loan-to-value (LTV) and across both its core and tailored propositions. Within the single self-contained (SSC) range at 75 per cent LTV, two-year fixed rates start from 3.55 per cent on Paragon’s green mortgage products, available on properties with EPC ratings of A to C. Equivalent products for properties with lower EPC ratings are available from 3.6 per cent. Five-year fixed rates start from 4.95 per cent on green mortgage products, or 5 per cent on equivalent products for properties with EPC ratings below C.

For landlords financing houses in multiple occupation (HMOs) and multi-unit blocks (MUBs), two-year fixed rates start from 3.7% at 75 per cent LTV, while five-year fixed rates begin at 5.1 per cent.

The lender has reintroduced a feature allowing existing buy-to-let customers to move from a Bank Base Rate tracker mortgage to one of its fixed-rate switch products without incurring an early repayment charge.

The lender has also decreased 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 – will now accept student lets under their HMO criteria providing the property is in one of their approved areas of Birmingham, Cambridge, Cardiff, Leeds, London, Manchester, Newcastle, Oxford and York.

The lender also has an NRLA member exclusive product, a five-year fixed rate for limited company applications with a rate of 5.79 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 decreased rates by up to 0.25 per cent. These include the one-year fix at 75 per cent LTV with a 3 per cent lender fee, which now has a rate of 3.83 per cent. There is also the two-year fix at 55 per cent LTV with a 5 per cent lender fee, priced at 3.51 per cent, and the equivalent five-year fix with a rate of 4.68 per cent.

Landbay – has decreased rates on selected buy-to-let fixed rates across its Premier, Core and Specialist buy-to-let range by up to 0.35 per cent, Two-year fixed rates now start from 3.44 per cent and five-year fixed rates now start from 4.69 per cent.

Foundation – has reduced its minimum buy-to-let property value to £70,000. For properties valued between £70,000 and £75,000, the maximum available LTV is 75 per cent.

Fleet Mortgages – has expanded its limited company lending criteria by accepting company group structures registered anywhere in the UK, including Scotland and Northern Ireland. Previously, eligible companies had to be registered in England and Wales. The security property is required to be in England or Wales.

Aldermore Bank – has decreased selected buy-to-let fixed rates by up to 0.2% per cent. Buy-to-lets for Individuals and Companies two-year fixed rates now start from 3.54 per cent and five-year fixed rates now start from 5.04 per cent and at the same time HMO and Multi Unit Freehold Limited two-year fixed rates now start from 3.89 per cent and five-year fixed rates now start from 4.79 per cent.

The lender will now accept Director's loans and Intercompany Loans as a source of deposit.

ModaMortgages – has decreased rates by up to 0.1 per cent across its limited-edition five-year fixed buy-to-let range. The specialist lender’s products, which carry no application or valuation fees, now start at 5.04 per cent for single-dwelling properties.

Rates for houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) containing up to six bedrooms or units start at 5.14 per cent. The mortgages are available to individual and limited company landlords at up to 80 per cent loan-to-value, with a choice of lender fee options.

CHL Mortgages - has launched a light refurbishment buy-to-let product range. The initial mortgage advance is based on the pre-works rental and market valuation figures, with a retention held based on the difference between the pre- and post-works values.

Once the borrower confirms the works are completed, a reinspection is instructed to confirm the actual post-works rental and market value figures. Following receipt of the reinspection approval, the retention funds are released.

United Trust Bank – has enhanced its buy-to-let criteria. The lender has increased the maximum mortgage term to 30 years and removed its period of minimum ownership to allow day one remortgages. Previous landlord experience is no longer required for houses in multiple occupation (HMOs) up to six beds or multi-unit blocks (MUBs) up to four units.

In support of experienced portfolio investors, the lender has also increased its maximum exposure to 10 BTLs or £3m per applicant.

Zephyr Homeloans - has reduced their Large HMO & MUFB Lifetime Tracker rates by 0.25 per cent.  Available on HMOs up to 12 bedrooms and MUFBs up to 12 units, these products offer the flexibility of no early repayment charges. The lender can now also lend to HMO/MUFBs which are above (or adjacent to) commercial premises, up to a max 75 per cent LTV.

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.