Leeds Building Society has added products to its houses in multiple occupation range as it begins lending again in this sector.
The products come out tomorrow and will be offered with free standard valuation and has a £999 product fee.
The offering includes a two-year fixed rate for a small HMO, defined as having up to or including six occupants, which is available up to 3.27 per cent. It is available up to 60 per cent loan to value (LTV).
The lender has also brought out a two-year fixed rate for large HMOs, defined as six plus occupants, which has a rate of 3.6 per cent and is available up to 75 per cent LTV.
Both permit 10 per cent capital over repayments per year, and the rates are in place until February next year and then there is a one per cent discount from the buy-to-let (BTL) variable rate until February 2027.
Matt Bartle (pictured), products director Leeds Building Society, said that he was pleased to announce the return to HMO lending as it looked to support the evolving BTL market.
He said: “As we start to move forward following the pandemic, we’re starting to see more students back at university or applying for courses in our university towns and cities, which may be of interest to those landlords seeking new opportunities.
“Our range of products and lending criteria is under constant review and it’s important to us to work closely with our broker partners to be able to assist borrowers who are not well served by the wider market.”
He added that a healthy housing market needed a mixture of tenures.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.