The products are available to individual and limited company borrowers and follow the same criteria as Metro Bank’s core BTL products. The lender said this would ensure clarity for both brokers and their clients.
Metro Bank said the range of solicitors on its panel would also help remove “unnecessary friction in the transaction”.
The product is available up to 75% loan to value (LTV), or 70% for loans more than £1m.
Standard BTL interest coverage ratio and stress rates apply. Metro Bank will accept up to six tenants for an HMO property and six units for MUFB.
Student lets and tenant benefits will be considered, as will borrowers with less-than-perfect credit profiles.
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Charles Morley, head of mortgage distribution at Metro Bank, said: “HMO properties have become essential within the property ecosystem for renters and landlords alike. We know that these types of properties are great for landlords looking to expand their property portfolio, due to their higher income potential.
“As an award-winning specialist lender, we understand how important consistency and simplicity is to brokers and landlords; this is why our criteria [are] consistent across our entire BTL range.”
Last month, Metro Bank raised the maximum LTV for its commercial mortgages to 85%.
