Paragon Bank has introduced a streamline buy-to-let (BTL) mortgage application journey for landlords with up to 15 properties. 

The lender will use its new mortgage origination platform to pre-populate much of the application information required. 

The new application will initially only ask for a valuation and where the landlord holds more than three BTL properties, a property schedule. 

The new process is suitable for individual and limited company landlords with a portfolio of up to 15 properties, single self-contained properties, those up to 75% loan-to-value (LTV) and up to £2m exposure with the lender.

The application system integrates with several data sources, including Companies House, Experian and Hometrack. 

The updated process removes the need for most applicants who fit the criteria to upload documents such as payslips, tax returns, rental bank statements and for limited companies, two years of accounts.

All applications will continue to be 100% underwritten and further documentation may still be requested where it supports the decision to lend.

Paragon Bank managing director of mortgages Louisa Sedgwick says: “BTL is in our DNA and we pride ourselves in our ability to evolve. We are known as specialists in complex BTL and we continue to excel in those more specialist propositions, but we are also here to support landlords with smaller portfolios or more simple requirements.”

 “The launch of our mortgage origination system earlier this year has enabled us to implement a fresh approach and tailor our application process for specific customer groups.”

“Landlords with smaller portfolios and simpler BTL propositions require a more straightforward application and underwriting approach, so that is why we have streamlined and simplified the journey for landlords with 15 properties or under on single self-contained properties.”

Last month, Paragon Bank appointed Eloise Potts and Stephen Harrison as business development managers within its mortgage division to support brokers in the North West and North East of England, respectively.