Specialist property?

Solution Found.

Key criteria

Specialist property types

  • HMOs up to 8 bedrooms
  • Student lets on HMOs
  • Multi-unit blocks up to 10 units
  • Short term lets - no AST required
  • New build houses are acceptable
  • New build flats are acceptable up to 65% LTV
  • Right to buy accepted if the security is not subject to pre-emption
  • Balcony access and ex-local authority considered

Who for?

  • Purchases and remortgages
  • Individual landlords with at least one existing BTL
  • Portfolio landlords
  • Limited companies
  • Clients with no main residential property but have a background BTL

How much?

  • Maximum loan on HMOs £500k up to 80% LTV and £1M to 75% LTV
  • Short term let (STL) maximum loan size £1m to 75% LTV.
  • ICRs @125% for limited companies and basic rate tax payers and @145% for higher rate tax payers
  • STL valued as a standard BTL
  • STL rental coverage calculated as a standard BTL

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