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TML reintroduces HMOs and MUBs; LendInvest ups max LTV – round-up

  • 20/05/2020
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TML reintroduces HMOs and MUBs; LendInvest ups max LTV – round-up
The Mortgage Lender (TML) and LendInvest have made changes to their buy-to-let (BTL) products as physical valuations continue to rollout in England.


TML has confirmed to Mortgage Solutions that it is now able to conduct valuations on houses in multiple occupation (HMOs) and multi-unit blocks (MUBs).

This has allowed the lender to begin accepting new applications for these property types again.

Last month TML introduced desktop valuations which enabled the lender to consider LTVs up to 75 per cent on new and pipeline cases but certain property types were excluded, including HMOs and MUBs.

TML sales director Steve Griffiths (pictured) said: “We’re delighted that we’re now able to offer physical valuations for HMO and MUB buy-to-let applications in England as the market begins its slow return to a new normal.

“Our team have worked hard to support brokers by offering higher LTV and desktop valuations throughout the crisis, and it is great to see how the industry is working together to provide workable borrowing solutions for buy-to-let landlords while ensuring the safety of our teams.”




LendInvest has updated its buy-to-let product range and increased the maximum LTV to 75 per cent as valuations resume.

Two-year fixed rates start at 2.99 per cent available up to 65 per cent LTV and 3.29 per cent up to 70 per cent LTV, with a maximum loan size of £750,000.

The lender has also reintroduced its five-year fixed rate at 75 per cent LTV product, which will be available at a rate of 3.99 per cent.

Affordability is calculated at an interest cover ratio (ICR) of five per cent against the total gross loan amount, and the lender has adjusted its definition of small HMO to six bedrooms.

LendInvest director for buy-to-let Andy Virgo said: “It is encouraging to see the housing industry start shifting safely back into gear this week, and the team are primed and ready to hit the ground running with this new refresh to our product range.”



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