Specialist BTL lenders (the core SPV panel)
These specialist BTL lenders accept SPV applications routinely, accept day-one SPVs, and have the widest product ranges:
Paragon
One of the largest specialist BTL lenders. Accepts day-one SPVs. Strong on HMOs (up to 10 lets), MUFBs, holiday lets. Uses investment-method valuation for HMOs and FHLs. Pricing typically mid-pack. Min director age 21, max 75 at end of term.
Aldermore
Long-established SPV lender. Day-one SPV accepted. Standard single-let strong; HMOs up to 6 lets routine. Pricing typically competitive on 75% LTV products. Director age 21-80.
Landbay
SPV-focused lender. Day-one SPV. HMOs up to 8 lets, MUFBs welcome, large portfolio appetite. Investment-method valuation available for purpose-built HMOs.
Foundation Home Loans
Specialist for slightly more complex cases. Day-one SPV. Accepts some applicants other lenders won't (e.g. expat directors, recent credit blips). Pricing usually slightly higher to reflect the wider risk appetite.
Kent Reliance (OSB Group)
Strong on HMOs (up to 10 lets), bridge-to-let products, Article 4 areas. Day-one SPV. Investment-method valuation for large HMOs. Pricing typically mid-pack.
Precise Mortgages (OSB Group)
Sister lender to Kent Reliance. Day-one SPV. Standard single-let and HMOs up to 6 lets. Slightly higher pricing than Aldermore/Paragon.
BM Solutions (Lloyds)
The standard "branded-mortgage-club" SPV lender. Day-one SPV. Standard single-let up to 5-let HMOs. Pricing usually competitive at 75% LTV. Director income criteria slightly stricter than specialist lenders.
High-street lenders (limited SPV ranges)
Some high-street lenders offer SPV products but with narrower criteria:
- NatWest Intermediary Solutions — SPV BTL up to 4 lets, requires 12+ months SPV trading history.
- Barclays Wealth — SPV BTL for established directors (12+ months SPV, £75k+ personal income).
- Coventry for Intermediaries — SPV BTL standard residential, max 5 lets, day-one SPV considered case-by-case.
- Halifax Intermediaries — limited SPV BTL appetite, recent re-entry to the market.
High-street SPV products typically have sharper headline rates but tighter criteria. Worth pricing alongside specialist lenders for clean cases.
Challenger and fintech lenders
- Molo Finance — fully-digital BTL lender. Day-one SPV, fast online process, standard single-let up to 4 lets. Competitive on rates at 75% LTV.
- Together Money — broader speciality lender (HMOs, refurb, ex-LA). Slightly higher pricing.
- LendInvest — primarily a development and bridging lender, but has BTL products. SPV welcome.
- Atom Bank — competitive on standard SPV BTL at 75% LTV. Day-one SPV.
Lender criteria comparison
| Lender | Day-one SPV? | Max LTV | Max HMO lets | Holiday let? | Min director income |
|---|---|---|---|---|---|
| Paragon | Yes | 80% | 10 | Yes | £25k |
| Aldermore | Yes | 80% | 6 | Yes | £25k |
| Landbay | Yes | 75% | 8 | Yes | £25k |
| Foundation | Yes | 80% | 6 | Yes | £15k |
| Kent Reliance | Yes | 80% | 10 | Yes | None |
| Precise | Yes | 75% | 6 | Yes | £15k |
| BM Solutions | Yes | 75% | 5 | No | £25k |
| NatWest | No (12mo) | 75% | 4 | No | £40k |
| Molo | Yes | 75% | 4 | Limited | £25k |
Which lender for which case?
- Clean standard single-let SPV BTL, 75% LTV: Aldermore, Paragon, BM Solutions, Atom — likely best pricing.
- HMO, 5-6 lets, licensed: Aldermore, Paragon, Landbay, Kent Reliance.
- Large HMO, 7-10 lets: Paragon, Kent Reliance, Landbay.
- Holiday let / FHL: Paragon, Kent Reliance, Aldermore, Landbay.
- 80% LTV needed: Foundation, Kent Reliance, Paragon, Aldermore.
- No personal income / pension only director: Kent Reliance, Foundation.
- Adverse credit (CCJ, missed payment 1-3 years ago): Foundation, Precise, Together Money.
- Refurb-to-let strategy: Kent Reliance (bridge-to-let), Together Money, LendInvest.
A specialist broker will run a sourcing exercise across the live panel to pick the right lender for your specific case — rather than defaulting to the broker's favourite.