Paragon Bank has increased its maximum loan limits across its range of buy-to-let (BTL) mortgages, as well as removing minimum income requirements for portfolio landlords.

The changes to maximum loan limits include up to £800,000 at 80% loan-to-value (LTV), an increase from £750,000, up to £1.2 million at 75% LTV, a rise from £1 million and up to £1.7 million at 70% LTV, a lift from £1.5 million

For individuals with three or fewer mortgaged BTL properties, Paragon has introduced a new maximum loan of up to £2 million at 65% LTV.

For individuals with four or more mortgaged BTL properties, limited companies and applications for HMOs or multi-unit blocks, the maximum for 65% LTV remains unchanged at £4 million.

In addition, Paragon has also removed the minimum income requirement for landlords who own four or more BTL properties, which was previously £25,000.

Paragon Bank mortgages commercial director Russell Anderson says: “These new maximum loan limits deliver more flexibility to our customers, enabling them to target a wider range of buy-to-let propositions.”

“This year has been busy, with the launch of our mortgage origination platform, streamlined application process for simple cases, our new multi-property proposition and now these latest changes.”

These latest changes form part of Paragon’s evolution of product and proposition following the launch of its mortgage origination platform earlier this year.