BM Solutions to allow Houses of Multiple Occupation (HMO’s)

Houses of Multiple Occupation (HMO’s)

BM Solutions, part of Lloyds Banking Group, has just announced that it is adjusting its lending criteria to allow buy-to-let landlords to rent properties to students and benefit claimants.

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

BM Solutions has confirmed that with immediate effect, they are willing to offer loans on properties with a maximum of five occupants.  They have never lent on Houses of Multiple Occupation before, which is where tenants sign individual tenancy agreements.

Source: http://www.mortgagesolutions.co.uk/mortgage-solutions/news/2255359/bm-solutions-relaxes-buytolet-criteria?wt.mc_ev=click&WT.tsrc=Email&utm_term=&utm_content=BM%20Solutions%20relaxes%20buy-to-let%20criteria&utm_campaign=18%2F03%2F13%2010.31%20BM%2C%20NewBuy%2C%20BTL%2C%20Osborne&utm_source=Daily&utm_medium=Email