Benefits of a MUFB mortgage
Being a relatively specialist area of the buy to let sector, obtaining a multi unit let mortgage can come with its difficulties however, for most it is definitely possible. Sometimes referred to as a multi unit buy to let mortgage, it’s simply knowing where to look.
It can also be useful to know a few of the basics.
- Usually available up to a maximum of 75% of the property value or purchase price however, on occasion lending up to 80% may be possible
- Usually also available to first time landlords (FTLs) but typically not first time buyers (FTBs)
- Restrictions typically apply to the number of units in each freehold property however it may be possible to find finance on unlimited numbers
- Loans available for ownership through limited companies or as individuals
- Interest only or capital and interest repayment methods available
- Interest cover ratio (ICR) typically based on overall rentable value