Quantum Mortgages has enhanced its BTL lending criteria for clients in Northern Ireland and foreign nationals, as well as for its holiday let range.
For its Northern Ireland proposition, the lender will now accept freehold HMO and MUBs with up to six beds — previously, it only lent on singe unit freeholds.
Meanwhile, for foreign national buying investment properties in the UK, Quantum Mortgages will accept landlord experience in their country of residence, rather than having to own an existing UK property.
In addition, the minimum loan size for foreign national clients has been reduced to £25,001 to allow the purchase of lower value/higher yielding properties.
Across its holiday let range, the firm will consider an average of annual holiday rental value x 35 weeks for certain holiday lets, and has increased the maximum loan on its specialist range to £1m, to help landlords with higher-value semi-commercial units and larger HMOs in the south of England.
Spencer Gale, sales and marketing director at Quantum Mortgages, said: “Since launching last March 2022, 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.”
