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LendInvest alters HMO and MUFB criteria

  • 24/06/2022
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LendInvest alters HMO and MUFB criteria
LendInvest has made a number of updates to its buy-to-let lending criteria, which include broader rules for houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB).

The lender has brought out an HMO product for first-time landlords and it will also offer rental yield based valuations on small HMOs, which it defines as up to six rooms, in Article 4 areas.

Article 4 of the General Permitted Development Order gives local authorities who use them the right to withdraw specified permitted development rights in certain areas. It was updated in 2011.

The lender will also accept HMO and MUFB applications on its Tier 2 range which will widen access to funding for more landlords. Its Tier 2 criteria is for non-UK, EU and EEA nationals subject to underwriter approval.

Andy Virgo, sales director for buy-to-let at LendInvest, said: “Evolving criteria is key to helping brokers and landlords alike get more from LendInvest.

“Listening to what our partners desire by way of flexibility and forever growing what we can offer is a sign of our commitment to the specialist lending market.”

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