Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Paragon Bank Unveils 'Tailored' Service for Complex Buy-to-Let Applications

Paragon Bank has launched a new service called 'Tailored', designed to support buy-to-let (BTL) mortgage applications that do not meet standard lending criteria. The service aims to provide additional support for brokers handling complex cases, according to Paragon Bank.

The 'Tailored' service is accessible through Paragon’s intermediary portal, where brokers can select it as the application type during the BTL application process. Brokers are supported by their business development manager or a dedicated Tailored underwriting team, who are available to discuss cases before submission and provide guidance as applications progress.

Paragon Bank stated that the service is suitable for a range of scenarios, including landlords seeking higher loan amounts, those with larger or more complex portfolios, and cases involving non-standard ownership structures such as trusts or trading companies. It can also assist landlords with varied tenant types, applications outside typical age parameters, and those with limited experience in the sector.

Applications submitted under the Tailored service are reviewed by dedicated underwriters, who consider the full context of each case, including the structure of the landlord’s business, the nature of the property assets, and the applicant’s wider portfolio strategy. If a case initially submitted under standard criteria no longer fits, it may be assessed under the Tailored route. Conversely, applications submitted as Tailored that meet standard criteria can be transferred to the main range.

Earlier this month, Paragon Bank’s chief executive, Nick Terrington, noted that BTL lending had fallen due to buyer nervousness. Gross BTL mortgage lending fell by 4.7% year-on-year to £773.7m in the six months ending 31 March. Terrington described the external environment as “volatile”.