Kensington Mortgages has upgraded its buy-to-let proposition.

The latest changes will include loans of up to 75% LTV for Houses of Multiple Occupation (HMOs) and Multi Unit Freehold Blocks (MUBs) – up to a maximum loan of £1 million and no minimum overall property value required.

Rates on HMOs and MUBs start from 2.89% on a two-year fixed rate at 65% LTV and both property types can now have six units.

Applications from limited companies will be accepted.

Kensington has further expanded its lending criteria and introduced ‘top-slicing’ to allow personal income or income from other properties to be used in affordability assessments, with rental cover from 125%. Applications from non-owner occupier and first-time buyers will now also be accepted (on condition that one applicant is earning £40,000 or above) and the applicant age has been increased to a maximum of 70 years at application.

Buy-to-let rates now start at 2.69% for a two-year fixed rate at 70% LTV, with a maximum loan value of up to £2 million.

Craig McKinlay, sales and marketing director at Kensington Mortgages, said: “As one of the UK’s top buy-to-let lenders, this latest upgrade is part of our long-term strategy of enhancing Kensington’s buy-to-let proposition and supporting landlords across England, Wales and Scotland.

“With higher LTV’s, reduced rates and a wider range of tailored products to choose from, our buy-to-let upgrade will provide landlords with even more flexibility.”