The best buy-to-let mortgage lenders in the UK for 2026

Article updated: 21 October 2026

The best buy-to-let mortgage lender is the one whose criteria fit how you own the property, how many mortgaged properties you already hold and what kind of property you are buying. A high street lender such as The Mortgage Works or BM Solutions usually suits a standard let in your own name. Specialist lenders such as Paragon, Landbay, Aldermore, Rely and Shawbrook are built for limited companies, portfolios of four or more mortgaged properties, HMOs and multi-unit blocks. This guide compares 11 active UK buy-to-let lenders on the criteria that decide whether you get an offer, with every lender fact checked against the lender's own intermediary or product pages on 20 October 2026.

We do not rank lenders on interest rates. Buy-to-let rates change daily, and a rate that tops a best-buy table this morning can be withdrawn by the afternoon. Use this guide to build a shortlist, then check live pricing through a broker or a rate comparison service before you apply.

Which buy-to-let lender suits which landlord

Your borrowing structure narrows the field more than any rate does. These shortlists reflect each lender's published criteria in October 2026 and are listed alphabetically within each group, not in rank order.

First property, held in your own name
Accord Mortgages, BM Solutions, The Mortgage Works, and high street banks such as NatWest and HSBC. Pricing is keenest here when the case is simple and the deposit is large.

Limited company or special purpose vehicle
Aldermore, Fleet Mortgages, Landbay, Paragon, Rely and The Mortgage Works. BM Solutions also lends to limited companies, but only on standard single lets.

Four or more mortgaged properties
Aldermore, Molo, Paragon, Rely and The Mortgage Works, all of which publish dedicated portfolio criteria.

HMOs and multi-unit freehold blocks
Foundation Home Loans, Landbay, Paragon, Rely and Shawbrook. The Mortgage Works lends on HMOs but applies a higher rental cover test.

Applying without a broker
Molo takes applications directly online. Most specialist lenders in this guide accept business only through intermediaries, which we explain further down.

How we chose these lenders

We included lenders that were open to new buy-to-let business on 20 October 2026, publish their criteria, and cover at least one landlord situation well: personal ownership, limited company, portfolio, HMO or multi-unit property. For each lender we checked maximum loan to value, the rental cover test, limited company appetite, portfolio rules, HMO and multi-unit appetite, and whether you can apply directly.

Two lenders that appeared in earlier versions of this guide no longer qualify. Kent Reliance for Intermediaries stopped accepting new business on 17 December 2025, and Precise withdrew its buy-to-let products when OSB Group moved all buy-to-let lending to its new brand, Rely, launched on 12 November 2025. Rely is profiled below in their place.

Every criterion below comes from the lender's own published material, and we name each lender's weaknesses as plainly as its strengths.

How buy-to-let lenders decide how much to lend

Buy-to-let lenders size the loan mainly on the rent the property earns, not on your salary. Three tests do most of the work: the interest coverage ratio, the stress rate and the loan to value.

Interest coverage ratio

Most lenders require the monthly rent to cover 125% of the monthly interest payment for basic-rate taxpayers and limited companies, and 140% to 145% for higher-rate and additional-rate taxpayers borrowing in their own names. The Prudential Regulation Authority's supervisory statement SS13/16 describes 125% as the current industry standard minimum. The higher figure for higher-rate taxpayers reflects the restriction on mortgage interest relief explained in our guide to Section 24. HMOs often carry a higher test: The Mortgage Works applies 175% to every HMO application regardless of tax status.

Stress rate

Lenders calculate that interest at a stressed rate rather than the rate you will pay. Under the Prudential Regulation Authority's SS13/16 (January 2026 update, effective 1 January 2027), lenders use a minimum borrower rate of 5.5% across the first five years unless the rate is fixed for five years or more, in which case they may test closer to the pay rate. That is why a five-year fix often lets you borrow more than a two-year fix on the same rent.

Loan to value

Most buy-to-let products top out at 75% loan to value, so a 25% deposit is the safe working assumption. Several lenders in this guide go to 80% on selected products, and larger deposits unlock cheaper pricing. To see how rent, rate and deposit interact for your own numbers, run them through our buy-to-let mortgage calculator before you speak to a lender.

The 11 buy-to-let lenders compared

The lenders below are grouped by type, not ranked. Each profile states where the facts come from and when we checked them.

The Mortgage Works

Best for
Landlords who want a mainstream lender that also handles limited companies, portfolios and HMOs.

Who they are
The buy-to-let arm of Nationwide Building Society.

Key criteria
Limited company lending goes up to 80% loan to value with a 125% interest coverage ratio and a maximum loan of £2 million per buy-to-let product. The company must be a special purpose vehicle with SIC code 68100, 68201, 68209 or 68320, there can be no more than two applicants, and every director gives a personal guarantee. HMO lending runs to 75% loan to value at a 175% coverage ratio. Its portfolio criteria assess personally owned background portfolios at 145% and a 5.25% stress rate, and limited company properties at 125%.

Recent change
The NRLA's October 2026 market update reports that The Mortgage Works raised maximum total borrowing with the Nationwide Group from £7.5 million to £10 million.

Watch out for
The two-applicant cap rules it out for limited companies with three or more shareholder-directors.

Checked
20 October 2026, against The Mortgage Works intermediary criteria pages.

BM Solutions

Best for
Straightforward single lets in personal names, and smaller limited company portfolios of standard properties.

Who they are
The buy-to-let brand of Lloyds Banking Group. Its criteria site states it is for mortgage intermediaries only.

Key criteria
Its limited company proposition, launched in July 2025, lends on portfolios of up to 10 properties and does not lend on HMOs, multi-unit blocks or commercial property. In October 2026 it merged its 65% and 75% personal and let-to-buy products into a single band up to 75% loan to value, according to the NRLA's October 2026 update.

Watch out for
No HMO or multi-unit appetite in the limited company range, and no direct applications.

Checked
20 October 2026, against the BM Solutions criteria site and NRLA reporting of its October changes.

Accord Mortgages

Best for
Personal-name landlords who want clearly published affordability rules.

Who they are
The intermediary lending brand of Yorkshire Building Society.

Key criteria
Accord's rental coverage criteria require 125% for basic-rate taxpayers and 145% for higher-rate taxpayers. Products shorter than five years are stressed at the higher of 5.5% or the product rate plus 2%, and five-year products at the higher of 4.75% or the product rate plus 0.5%. The rent used is the lower of the rent received and the valuer's figure for the property let unfurnished.

Watch out for
Limited company and portfolio limits are not set out on the rental coverage page, so ask your broker to confirm them for your case.

Checked
20 October 2026, against Accord's buy-to-let criteria pages.

Paragon Bank

Best for
Experienced portfolio landlords, limited companies and larger HMOs.

Who they are
A specialist buy-to-let bank lending through intermediaries.

Key criteria
Paragon's intermediary pages confirm it lends to first-time landlords, limited companies, experienced portfolio landlords, and large HMOs and multi-unit blocks. Its lending criteria set a minimum combined gross income of £25,000, with case-by-case assessment for landlords and companies with four or more properties who fall short. HMO and multi-unit lending requires at least two years' letting experience, and its published loan-to-value limits are lower for some portfolio cases than for landlords with three or fewer mortgaged properties.

Watch out for
Expect a full portfolio schedule and business plan at application, and pricing that is rarely the cheapest for a single simple let.

Checked
20 October 2026, against Paragon's intermediary pages and lending criteria.

Landbay

Best for
Limited companies, small HMOs and first-time landlords buying an HMO or multi-unit block.

Who they are
A buy-to-let-only lender that takes new business and product transfers solely through brokers.

Key criteria
Landbay's lending criteria set a 125% coverage ratio for basic-rate individuals and limited companies, rising to 140% or 145% for higher-rate individuals depending on the range. Two-year fixes are stressed at the higher of 5.5% or the pay rate plus 2%, and five-year fixes at the pay rate. Small HMOs of up to six beds go to 80% loan to value, and large HMOs and multi-unit blocks to 75%. First-time landlords must own their own home and are capped at 75%. The minimum income is £25,000, waived for landlords with more than 24 months' experience.

Watch out for
Its Premier range caps the portfolio at 15 mortgaged buy-to-let properties and £5 million exposure.

Checked
20 October 2026, against Landbay's intermediary lending criteria.

Fleet Mortgages

Best for
Limited companies, including group structures, and self-employed landlords with a short trading record.

Who they are
A specialist buy-to-let lender owned by Starling Bank, lending through brokers.

Key criteria
In March 2026 Fleet removed its minimum income requirement, cut the self-employed trading history required from two years to one full tax year, and extended the maximum term to 35 years. In July 2026 it began accepting company group structures registered anywhere in the UK, while the security property must still be in England or Wales.

Watch out for
Fleet lends only on properties in England and Wales.

Checked
20 October 2026, against trade press reporting of Fleet's 2026 criteria announcements. Fleet's own criteria pages could not be reached for this update.

Aldermore

Best for
Complex limited company structures and large portfolios.

Who they are
A specialist bank lending through intermediaries.

Key criteria
Aldermore's intermediary buy-to-let guide dated 14 October 2026 sets single-property lending at 75% to 80% loan to value, with a 125% coverage ratio for basic-rate taxpayers and companies and 140% for higher-rate taxpayers. It accepts newly incorporated and day-one special purpose vehicles, layered company structures under a UK holding company and family investment companies. Portfolios can reach £10 million with Aldermore, and up to 30 properties can go on one application.

Watch out for
HMO lending is limited to six bedrooms, and the product tables show HMO products as remortgage only.

Checked
20 October 2026, against Aldermore's intermediary product guide.

Rely

Best for
Large HMOs, multi-unit blocks and landlords with complex company structures.

Who they are
OSB Group's dedicated buy-to-let lender, which replaced Kent Reliance for Intermediaries and Precise for new buy-to-let business.

Key criteria
Rely's listing with the Legal & General Mortgage Club, published 5 October 2026, describes it as intermediary only, with no cap on HMO size, multi-unit block size or portfolio size, and HMOs of up to six rooms for first-time landlords. OSB states that Rely handles limited company cases without a separate legal panel.

Watch out for
Rely is less than a year old, and its full loan-to-value and coverage figures sit behind its broker portal.

Checked
20 October 2026, against OSB Group's launch announcement and Rely's mortgage club listing.

Foundation Home Loans

Best for
HMOs, multi-unit blocks, holiday lets and lets to housing associations or councils.

Who they are
A specialist buy-to-let lender working through intermediaries.

Key criteria
Foundation offers dedicated large HMO and multi-unit freehold block products, accepts properties let to housing associations and local authorities, and from October 2026 lets holiday-let owners occupy their property for up to 60 days a year, according to the NRLA's October update.

Watch out for
Specialist pricing and higher fees make it uncompetitive for a simple single let.

Checked
20 October 2026, against Foundation product announcements and NRLA reporting. Foundation's own criteria pages could not be reached for this update.

Shawbrook

Best for
Larger loans, complex buy-to-let and landlords who also hold semi-commercial property.

Who they are
A specialist bank lending through its property broker channel.

Key criteria
Shawbrook lends from around £40,000 to £35 million and supports investment valuations on HMOs. Its complex buy-to-let range takes single lets, HMOs and multi-unit blocks of up to 10 units let to social housing operators, and its commercial range covers semi-commercial property up to 75% loan to value.

Watch out for
Shawbrook publishes few headline criteria openly, so expect a broker-led, case-by-case process.

Checked
20 October 2026, against Shawbrook's broker pages and 2026 trade press reporting.

Molo

Best for
Landlords who want to apply online without a broker.

Who they are
A digital buy-to-let lender with separate customer and intermediary sites.

Key criteria
Molo's portfolio mortgage page sets no limit on the number of mortgaged buy-to-let properties, lends up to 80% loan to value to individuals and limited companies, and sets no minimum income provided you can evidence that you can pay. It assesses the background portfolio at 100% coverage stressed at 5.5%.

Watch out for
Molo lends on properties in England and Wales only. Its portfolio range requires at least four mortgaged buy-to-let properties.

Checked
20 October 2026, against Molo's customer site.

Best mortgage lenders in the UK: where buy-to-let fits

The best residential mortgage lender is not automatically the best lender for a rental property. Several of the UK's biggest home loan providers lend to landlords through a separate brand with its own criteria: Nationwide through The Mortgage Works, Lloyds Banking Group through BM Solutions, and Yorkshire Building Society through Accord. High street banks such as NatWest, HSBC and Barclays also offer buy-to-let mortgages under their own names.

High street lenders tend to win on price for simple cases: one property, held personally, with a large deposit and comfortable rental cover. Specialist lenders win once the case gets complicated, because they underwrite manually and publish criteria for limited companies, portfolios and HMOs that automated high street systems decline. If you own four or more mortgaged properties, our guide to portfolio landlord mortgages covers how lenders assess the whole portfolio, and how many buy-to-let mortgages you can have sets out the property caps individual lenders apply.

Limited company buy-to-let lenders

Most specialist lenders and a growing number of mainstream ones lend to limited companies, and they almost always expect a special purpose vehicle whose only activity is letting property. Lenders check the company's SIC code and ask each director for a personal guarantee. Limited companies are usually assessed at a 125% coverage ratio whatever the directors' personal tax rate, which can mean borrowing more against the same rent than a higher-rate taxpayer could in their own name.

Whether incorporation makes sense depends on tax, not just borrowing. Our guide to forming a limited company as a landlord sets out the trade-offs, and our roundup of SPV formation services covers setting one up correctly first time.

Lenders for portfolio landlords

The Prudential Regulation Authority treats anyone with four or more distinct mortgaged buy-to-let properties as a portfolio landlord, counted across all lenders. From that point, lenders assess your whole portfolio, not just the property you are buying: aggregate loan to value, aggregate rental cover, and your experience and business plan.

When we work with self-managing landlords approaching their fourth or fifth mortgage, the delay is rarely the lender's appetite. It is the portfolio schedule: a property-by-property list of values, loans, rents and costs that the landlord has to rebuild from bank statements. August's portfolio reports pull that information from the rent and expense records you already keep, so the schedule is ready when the broker asks for it.

Lenders for HMOs and multi-unit blocks

HMO and multi-unit lending is a specialist market. Lenders want proof of the correct licence, often ask for letting experience, and may value the property on its rental income rather than on comparable sales. Foundation, Landbay, Paragon, Rely and Shawbrook all publish dedicated HMO criteria, while BM Solutions excludes HMOs from its limited company range. Expect a higher coverage ratio, a lower maximum loan to value and higher fees than for a single let.

Direct lenders versus broker-only lenders

Most specialist buy-to-let lenders, including BM Solutions, Landbay, Rely, Aldermore and Paragon, accept applications only through mortgage intermediaries. A broker gives you access to those lenders, knows which ones will accept an unusual case before you pay for a valuation, and can often place you with a lender you would not have found alone. Molo is the main exception in this guide, taking applications directly online.

Our guide to choosing a buy-to-let mortgage broker explains whole-of-market and fee-free brokers, typical fees, and the questions to ask before you engage one. If a purchase needs short-term finance before a buy-to-let mortgage, for example an unmortgageable property or an auction completion, see our roundup of bridging loan lenders.

Are buy-to-let mortgages regulated by the FCA?

Most buy-to-let mortgages are not regulated by the Financial Conduct Authority, because the borrower takes them out for business purposes and will not live in the property. The FCA's perimeter guidance sets out the exceptions. A loan where you or a close family member will live in the property is a regulated mortgage contract. A loan to an individual who is not letting as a business, such as an accidental landlord letting a former home, is consumer buy-to-let, governed by the Mortgage Credit Directive Order 2015.

In practice, this means the full mortgage conduct rules and complaint routes that protect homeowners may not apply to a standard business buy-to-let loan. Fewer lenders offer consumer buy-to-let, so tell your broker early if your case falls into that category.

Remortgaging and product transfers

When a fixed rate ends, you can switch to a new product with the same lender, known as a product transfer, or move to a new lender. A like-for-like product transfer with no extra borrowing usually skips the full affordability assessment, which helps landlords whose rental cover has tightened since they first borrowed. Moving lender, or remortgaging a rental, means passing the current coverage and stress tests again, but it may unlock a better rate or release equity. Start comparing four to six months before your current deal ends.

Stamp duty on a buy-to-let purchase

Buying an additional residential property in England or Northern Ireland adds a 5% surcharge on top of the standard Stamp Duty Land Tax rates, a rate that has applied since 1 April 2025. On a £250,000 purchase, the surcharge alone is £12,500. Scotland and Wales charge their own land transaction taxes with separate additional-dwelling supplements. Use our stamp duty calculator to work out the full figure, and read our stamp duty guide for landlords for reliefs and edge cases.

How to prepare an application that gets an offer

Lenders decline buy-to-let applications most often because the rent does not cover the stressed interest, the deposit is short, or the paperwork does not reconcile. Before you apply:

• Get a realistic rental valuation, because the lender's valuer will set the rent figure used in the coverage test.

• Check your credit file with all three agencies and correct any errors.

• Prepare proof of deposit, including its source, and personal income evidence.

• For limited companies, have the company number, shareholder register and SIC code to hand.

• For portfolios, build a schedule of every property with value, loan, lender, rent and monthly payment.

Self-managing landlords consistently tell us the hardest document to produce is evidence of rent actually received. August's rent tracking matches tenant payments to each tenancy through open banking, giving you a clean twelve-month record to hand a broker without trawling through statements.

Frequently asked questions

Who is the best buy-to-let lender?

No single lender is best for every landlord. The Mortgage Works and BM Solutions suit straightforward personal-name lets, Paragon, Aldermore and Rely suit portfolios and complex limited companies, and Foundation, Landbay and Shawbrook suit HMOs and multi-unit blocks. A broker can match your case to the lender whose criteria fit.

How much deposit do I need for a buy-to-let mortgage?

Plan for a 25% deposit, because most buy-to-let products stop at 75% loan to value. Some lenders, including Molo, Aldermore and The Mortgage Works for limited companies, offer products at up to 80%. A deposit of 35% to 40% usually unlocks the lowest rates.

What is the best buy-to-let mortgage rate at the moment?

Buy-to-let rates change daily, so any figure published in a guide is out of date within days. Check live best-buy tables or ask a whole-of-market broker on the day you are ready to apply, and compare the total cost including fees, not just the headline rate.

Can I get a buy-to-let mortgage through a limited company?

Yes. Most specialist lenders and several mainstream ones lend to limited companies, usually requiring a special purpose vehicle with a property SIC code and personal guarantees from the directors. Limited company borrowers are normally assessed at a 125% coverage ratio.

August helps self-managing landlords track rent, log costs and produce the reports lenders and brokers ask for. It is free for up to two tenancies, and you can compare plans and start for free.

This guide is general information, not financial advice. Lender criteria change frequently. Confirm current criteria and rates with the lender or a qualified mortgage adviser before you apply. Lender facts checked 20 October 2026.