Quantum Mortgages has made several improvements to its lending criteria, including increasing the maximum loan-to-value (LTV) available for specialist properties.
Specialist range properties include houses in multiple occupation (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 even 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.
“Whist 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.”
Aron Engel, senior mortgage broker at BTL specialist DAS finance, said: “Quantum Mortgages are the best at listening to and understanding what we and are landlord clients are looking for and more importantly can act on this feedback quickly.
“We have been working with them since day one of their launch, and have found their flexibility, common sense approach and customer service to be a breath of fresh air.
“We expect to keep them very busy with these further improvements to their criteria.”
