MUFB with small unit sizes
The borrower
Ephraim was looking to purchase a Multi-Unit Freehold Block comprised of 5 units. He is an experienced portfolio landlord who was diversifying into the MUFB and HMO space in order to benefit from the higher rental yields they currently attract.
- Property value £2.3m
- Loan required £1.325m
- Rent £10,300 per month
The rental income was sufficient, but the complexity with this case was that, of the 5 units, two were under 25 Sqm, in fact one was just 23 square metres, which is less than the minimum for several other lenders.
How we can help
At Foundation we can help with this sort of case thanks to our specific criteria: We require no minimum unit size for MUFBs.
We love to talk a case through, why not call your Foundation Regional Area Manager today?