You are here: Home - Buy to Let - News -

BM Solutions relaxes buy-to-let criteria

0
Written by:
18/03/2013
Lloyds-owned BM Solutions has adjusted its criteria to allow buy-to-let landlords to rent properties to students and benefit claimants.
BM Solutions relaxes buy-to-let criteria

Previously, the lender’s list of exclusions on its buy-to-let range included student lets, tenants claiming housing benefit, rent rebates or rent allowance, asylum seekers and tenants benefiting from diplomatic immunity.

With immediate effect, the lender is willing to offer loans on properties with a maximum of five occupants, a stipulation attached to all properties.

The lender confirmed it has never lent on Houses of Multiple Occupation, where tenants sign individual tenancy agreements.

The lender said: “We regularly review our lending policies and make changes when we feel it is necessary to do so. The private rental sector is playing an increasingly important role in supporting the demand for housing in the UK and as such we are taking the necessary steps to update our policies to support this.”

 

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your Mortgage Guides

Your Mortgage Award Winners 2019-2020

Download our guide to the best mortgage lenders in the UK

Read More >

Read previous post:
Buy-to-let key housing market driver

Increasing interest in buy-to-let has seen asking prices for homes in England and Wales hit a new high in March,...

Close