Lendco has extended its lending criteria – increasing the maximum loan per asset to £5m as well as accepting portfolio exposures of up to £20m.
The specialist lender has also broadened criteria for first-time landlords who are now eligible for loans secured against HMO and MUFBs of up to £2m.
Criteria has also been updated for new builds, flats above commercial and ex-local authority properties.
Commenting on the changes Lendco executive Alex King said: “We feel now is the time to broaden criteria to assist more landlords in what we are expecting to be better market conditions for property investment.”
“Our latest product pricing sees us a pretty compelling option in many areas, especially at lower loan sizes. We also have the appetite to help larger landlords with whole portfolio refinances which we can price on a bespoke basis.”
He added: “We researched extensively to identify areas where demand is high and borrowers underserved, and we look forward to helping a broader pool of borrowers with their financing needs”.
Lendco expands lending criteria – Mortgage Strategy
