Are you considering taking out a Multi Unit Buy To Let Mortgage for a purchase or to refinance an existing property investment? Lets discuss the key features and things to consider.
Multi Unit blocks can make a great property investment with high yields and risk spread over a number of paying tenants. However taking out a mortgage for a MUFB is not as straight forward as taking out a mortgage on a single BTL dwelling. There are more things to consider and a lower number of available lenders to choose from.
Whether you are exiting a development, making a new purchase or refinancing an existing property. There are important factors when applying for a Multi-Unit Mortgage:
- Are there 6 Units or fewer?
- Are there more than 6 Units?
- Is it currently Fully Occupied?
- For a refinance, are you looking to raise additional capital?
- Block value vs Individual unit resale value
- Are you a trading business or SPV
Working with a professional commercial finance broker can help you navigate the different lending requirements an criteria.
Key Features Of A Multi Unit Buy To Let Mortgage
There many variables with Multi Unit BTL mortgages that can impact on the maximum LTV available and interest rates. The key factor being the number of Units and block investment value vs the OMV of individual units.
However here are some of the key features you can expect when arranging a mortgage for a multi unit investment property.
- Maximum LTV Up To 75%
- Interest Only & Capital Repayment
- Refinance & Capital Release
- Fixed Rates For 2, 3, 5 & 10 Years
- No minimum income required
- High Value Cases Up To £25 million
- Complex Ownership Structures
- Portfolio Landlords
- Mortgage Terms Up to 30 years
- Individuals, LLPs, Limited Companies, PLCs, Trusts, SIPPs & Expats
Fill in the form below and one of our MUFB Mortgage experts will be in touch straight away.
Types of Multi Unit Freehold Blocks
You can arrange Buy To Let mortgages on a wide range of multi unit property types. Its important to understand exactly what your property is before approaching lenders. As criteria and availability varies between banks and lenders.
- Blocks of Apartments & Flats
- Student Accommodation
- Retirement Living & Villages
- Ex-Local Authority Flats
- Flats Above Commercial
- Local Authority
- Vulnerable Tenants
- Commercial To Residential Conversions
- Multiple Units On One Freehold
- New Build Apartments
- Development Exit
Specific issues around construction type and cladding, need to be considered on a case by case basis. There are specialist lenders that may still offer a mortgage, even if you have been declined elsewhere.
Apply For A MUFB Mortgage today
Get in touch to speak with one of our independent Commercial Finance experts.
We work with landlords, developers and property investors to source a wide range of BTL mortgages and property investment finance.
No matter what property type or complex circumstances, we are happy to assist.
Call us Mon – Fri 9am – 5pm on 01204 860113 or fill in the form below and we will be in touch straight away.