Friday, March 15, 2024
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Landbay has announced it has reduced rates across its standard five-year fixed range for houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFBs).
Rates on small HMO and MUFBs of up to six bedrooms/units have been reduced by as much as 0.25%, with the range now starting at 4.89%. This also includes supporting products for trading companies, as well as for first-time landlords.
To enable brokers to support their clients in meeting affordability requirements, the updated range is available with the lender's variable fee structure. With fees ranging from 3% to 6%, borrowers can secure a lower rate and enhanced affordability by opting for a higher fee.
Rob Stanton, sales and distribution director at Landbay, said: “Our enhanced HMO/MUFB range supports landlords in an important and ever-growing part of the market, especially with a rising student population and the clear challenges facing residential buyers.”
Call Trinity Specialist Finance to secure funding for a development on 020 7016 6151 or book a consultation
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