Paragon Bank has launched a new underwriting route for more complex buy-to-let cases, giving brokers a separate path for applications that sit outside its standard criteria.
The lender said its new Tailored service will be used for landlords with larger or more complicated portfolios, higher loan requirements, non-standard ownership structures and cases that need direct underwriter input rather than a straightforward automated fit.
For landlords, the move matters because product choice is no longer the only issue in the market. As portfolios become more layered after years of tax, regulatory and refinancing pressure, access to lenders willing to look closely at structure and strategy can be as important as the headline rate itself.
Paragon says complex landlord cases need a separate route
Paragon said brokers will be able to select Tailored inside its intermediary portal, with support from a business development manager or specialist underwriting team before and during submission. The bank said the route is aimed at cases involving trusts, trading companies, varied tenant types, higher age profiles or landlords with limited sector experience.
Louisa Sedgwick, managing director of mortgages at Paragon Bank, said the buy-to-let market was becoming more diverse and that some cases needed a more considered approach than standard criteria allowed.
She said Tailored had been built to give brokers a clear route for applications that do not align with conventional structures, backed by direct access to experienced underwriters who can assess the full picture of a case.
This follows Residential Landlord’s recent coverage of fresh buy-to-let repricing by major lenders, and its report on how Paragon had already been competing harder on rates and EPC-linked borrowing. The latest move suggests lenders are now trying to win business on flexibility and service as well as price.
Paragon’s own criteria note is set out on the bank’s intermediary lending pages, where brokers can review the sort of cases that may need a manual approach.
What the service could mean for landlords
The practical point is that specialist underwriting may help borrowers whose cases look awkward on paper but still stack up in reality. That may include landlords using company structures that do not fit standard moulds, borrowers trying to refinance a mixed portfolio, or investors combining standard stock with HMOs, multi-unit blocks or other less tidy arrangements.
There is also a timing angle. Earlier this month Paragon said gross buy-to-let lending had fallen 4.7% year on year in the six months to 31 March, which it linked to a more volatile backdrop and weaker buyer confidence. A bespoke route for non-standard cases is one way to protect volumes without simply chasing business through cheaper pricing.
Landlords should not assume a tailored route means looser underwriting. In practice it usually means closer scrutiny, more questions and a fuller assessment of how the wider business works. But for stronger borrowers with cases that do not fit a standard box, that can still be better than an outright decline.
Opinion
Paragon’s move looks sensible because the private rented sector is no longer a simple one-property market. The bigger issue now is whether more lenders follow with real underwriting flexibility rather than just short bursts of rate competition. If they do not, a lot of viable landlord business will still struggle to fit the template.
