It gives me a great pleasure in giving you advance notification about our exciting new product and criteria which go live on Monday 11th April.

Summary of changes

Larger HMOs

  • All types of HMO will be acceptable including licenced, C4 planning use, Sui Generis planning use, as well as properties requiring considerable alternation to sell as a family home
  • At least one applicant must be able to evidence they currently own, and have owned for at least 2 years, a minimum of one BTL property
  • Maximum of 10 bedrooms
  • No limit on the number of lettable rooms
  • Maximum LTV of 75%
  • Minimum property value of £150k for properties located within the M25, £100k elsewhere

Larger MUFBs

  • At least one applicant must be able to evidence they currently own, and have owned for at least 2 years, a minimum of one BTL property
  • Maximum of 10 units in the block
  • All units must have separate services
  • Maximum LTV of 75%
  • Minimum property value of £150,000 for properties located within the M25, £100,000 elsewhere

Short Term Lets

Properties let as an AirBnb, holiday let or serviced apartment are acceptable providing the valuer confirms

  1. The security property is suitable for occupation under an AST;
  2. The ICR calculation fits on the market rent based on an AST; and
  3. There is demand for the property from both owner occupier and investor buyers

Limited Company Lending

  • Now available to LLPs