Buy-to-let products have had rates reduced by 15bps

Over two-fifths of landlords are concerned about renters’ ability to pay rent, according to a new survey

The criteria changes follow rate cuts made earlier this week to the lender’s range of standard and limited company five-year, fixed-rate products.

The latest rate reductions follow similar cuts the lender made on its two-year fixed-rate products at the end of February.

The lender's recently changed criteria include a reduction in the minimum age required and a lower minimum income.

2-year fixes now start from 3.49%

The lender has also made rate reductions of up to 17bps across its CHL1 range

Rates now start from 3.34% - the lender's lowest rate since May 2022

The latest research from Octane Capital looked at current buy-to-let mortgage rates and the change seen over the last year.

The new lender, which distributes exclusively via intermediaries and was created by UK digital bank, Chetwood Bank, has become the latest addition to Paradigm's lending panel.