The lender already offered buy-to-let mortgages in Northern Ireland against single unit freehold properties up to 70 per cent loan to value (LTV). This has now been extended to allow freehold homes in multiple occupation (HMO) and multi-unit properties with up to six beds.
This option is also open to limited companies.
For foreign nationals buying property in the UK, the lender will accept landlord experience in their country of residence instead of requiring them to own a property in the UK. The minimum loan has also been reduced to £25,001 to enable the purchase of lower value properties which offer higher yields.
The lender will also now consider an average of annual holiday rental value multiplied by 35 weeks for select holiday lets.
Additionally, it has increased the maximum loan for specialist mortgages to £1m.
Spencer Gale, sales and marketing director at Quantum Mortgages, said: “Since launching last March, we have quickly become a go-to lender for intermediaries looking for a little more common sense and a can-do attitude to their landlord’s specialist finance needs.”
“We understand the challenges landlords face and are already seeing a shift towards the more complex, specialist type of property as professional landlords begin to feel the impact of higher finance costs and lower margins.
“To accommodate this growing trend, it was important we made some improvements to our criteria so these landlords always have a solution when the high street lenders and other specialist lenders can’t or won’t help.”
