Paragon HMO Mortgage: Criteria & LTV (2026)

Paragon Bank is a specialist lender with decades of experience in the UK's buy-to-let market. They offer a wide range of mortgage products for portfolio landlords, including finance for HMOs, multi-unit blocks, and properties with complex ownership structures.

Portfolio landlord specialists
No limit on portfolio size
HMOs and MUFBs up to 20 units

HMO Services

See our guide to HMO mortgages for criteria, valuation and how specialist lenders underwrite multi-let stock. Or compare HMO mortgage lenders side by side.

Yes:HMO Mortgages
Yes:HMO Remortgages
No:HMO Bridging
No:HMO Development

Paragon HMO mortgage criteria below are from Paragon Bank’s own intermediary HMO/MUB page, lending-criteria page and buy-to-let lending guidelines, checked 22 October 2026. They are not a live rate card. See HMO mortgages or compare HMO mortgage lenders.

HMO criteria at a glance

Paragon intermediary HMO/MUB page, lending criteria and BTL lending guidelines, 22 October 2026.

Item	Published	Source
Max beds	HMOs and MUBs up to 20 rooms and units	Paragon HMO/MUB page, 22 Oct 2026
Max LTV	Up to 80%, with loan-amount caps (e.g. £800,000 at 80%; £1.2m at 75%). Fees added count toward LTV.	Paragon lending criteria, 22 Oct 2026
ICR	HMO / MUB / other: 130% basic-rate and limited company; 145% higher and additional-rate	Paragon lending criteria, 22 Oct 2026
Ltd company	Yes (also in the HMO/MUB LTV table). LLP is on the wider BTL panel — confirm on the guidelines if your structure is an LLP.	Paragon lending criteria, 22 Oct 2026
First-time landlord	No — minimum two years’ lettings experience as a landlord on HMO and MUB	Paragon HMO/MUB page + lending guidelines, 22 Oct 2026
Licence	Current HMO licence if applicable; on purchase a copy of the new licence after completion	Paragon BTL lending guidelines, 22 Oct 2026
Valuation basis	Investment valuation at Paragon’s discretion. Five or more tenants will normally need an investment valuation.	Paragon BTL lending guidelines, 22 Oct 2026
Headline rate	Not published	Pages cited, 22 Oct 2026

HMO products offered

Term buy-to-let for HMOs and multi-unit blocks, including hybrids, multiple kitchens and locks on doors, single or multiple tenancies, students, professionals, benefit recipients and lets to local authorities or housing associations for up to five years. Refurb-to-let is a separate product for light works and C3 to C4 only — it is not a heavy HMO conversion facility.

Who this lender suits / does not suit

Suits a landlord with two years’ lettings experience who needs up to 20 rooms, an investment valuation and a portfolio or limited-company structure. Does not suit a first-time HMO buyer. Paragon’s two-year test is a published experience rule, not a definition of an HMO.

How to apply through a broker

Intermediary applications through Paragon’s portal. Send room count, licence, two-year letting evidence and whether you want an investment valuation. There is no charge for an initial quote.

Similar HMO lenders

Compare The Mortgage Works, Shawbrook and compare HMO mortgage lenders.

Next step: quote / speak to a specialist

Tell us rooms, licence and your two-year letting history. We will not send a first-time HMO purchase to Paragon.

Related reading: compare HMO mortgage lenders and HMO mortgages.

FAQs

Paragon HMO Mortgage: Criteria & LTV (2026): published criteria, not a live rate card.

What are Paragon HMO mortgage rates?

Not published as a live headline on the pages cited. Paragon HMO mortgage criteria are LTV bands, ICR and a two-year lettings test. Ask for a dated illustration.

Does Paragon accept first-time HMO landlords?

No on the HMO pages cited. The applicant must have a minimum of two years’ lettings experience as a landlord (HMO and MUB sections of the lending guidelines, checked 22 October 2026).