TML increases the maximum amount of the MUB loan
The mortgage lender has increased its maximum loan amount for multi-unit blocks (MUB) and new construction, and has removed loan-to-value restrictions on global loans up to £ 5million.
He will now lend up to £ 3million for a 70% loan-to-value MUB property and £ 2million for a new 70% loan-to-value property.
He also removed loan-to-value restrictions on global loans with a maximum loan amount of £ 5million across the portfolio and increased exposure limits on apartment blocks, where he will consider now lend on all units in a block of four from its previous limit of two.
The criteria changes follow a price overhaul of its buy-to-rent lineup earlier this month, where it slashed the cost of its five-year limited edition products and expanded the lineup by adding homes. multiple occupancy (HMO) and MUB to its Limited. Editing proposal.
The five-year fixed rate of the 75% Limited Edition Value Loan for Individual Applicants and Limited Liability Companies has been reduced from 3.31% to 3.2% and the new HMO / MUM product fixes on five-year loan has an initial rate of 3.58% to 75%. assess.
Limited edition products are available throughout the market for purchase and remortgage. They also offer a reduced 1% completion fee, a standard assessment fee, and a £ 150 application fee.
Steve Griffiths (pictured), sales and product manager for The Mortgage Lender, said: places they see an opportunity.
“By increasing our maximum lending and taking a portfolio view on risk, we are able to provide lending options to help brokers and their owners grow their businesses. “