Lendco has expanded its lending criteria, upping the maximum loan per asset to £5m as well as welcoming 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 houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFBs) of up to £2m.
Criteria has also been updated for new-builds, flats above commercial and ex-local authority properties in a move that the lender said was “bold, ambitious, and in keeping with demand regularly seen from property investors.”
Alex King, executive director at Lendco, 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.”
“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.”
