"Since we’ve seen a more stable rate environment the message has been clear - landlords are looking for higher leverage on the more specialist higher yielding properties."
- Harsha Dahyea, head of sales and distribution at Quantum
Buy-to-let lender Quantum Mortgages has made several improvements to lending criteria, including increasing the maximum loan to value available for specialist properties.
Specialist range properties - which include HMOs up to 12 units, studio flats of any size, flats above commercial units and semi commercial units - can now be financed up to 75% of open market valuation.
The lender's complex range – QML Pro, which caters for non-standard properties, HMOs of any size and properties with restrictive covenants, has also seen an increase to the maximum LTV from 65% to 70%.
Other criteria enhancements include freehold properties in Northern Ireland being added to the standard single unit and multi-unit ranges, providing access to loans up to 80% LTV at standard rates, and foreign national applicants now able to access specialist properties.
Harsha Dahyea, head of sales and distribution at Quantum Mortgages, said: “We are constantly listening to our broker partners and since we’ve seen a more stable rate environment the message has been clear - landlords are looking for higher leverage on the more specialist higher yielding properties.
"Whilst this is not possible for many more automated buy-to-let lenders, our unique and specialist method of underwriting allows us to be more flexible and apply some much-needed common sense for professional landlords.”
