StrideUp has increased the maximum financing available through its buy-to-let purchase plan to £2.5 million per property as it widens its criteria for specialist property types.
The Shariah-compliant home finance provider will now accept houses in multiple occupation with up to 12 bedrooms and multi-unit freehold blocks containing up to 10 units.
The changes double StrideUp’s previous limits for both property types, extending the plan to larger HMOs and professionally managed blocks.
Financing for HMOs and multi-unit freehold blocks remains available at up to 75% FTV. The maximum available across a portfolio with StrideUp is £3 million.
The plan is open to individuals, joint applications involving up to four people and UK-registered limited companies. First-time landlords will be considered, while homeowners and existing landlords are not subject to a minimum income requirement.
Rizwan Ali, director of sales and marketing at StrideUp, said: “Landlords operating larger HMOs and multi-unit blocks have had very few shariah-compliant routes available to them, and brokers have told us this consistently.
“Extending our criteria to 12-bedroom HMOs and 10-unit MUFBs means intermediaries can now place cases for professional landlords who were previously locked out of values-aligned finance at this scale.
“It’s a straightforward change with a meaningful impact on who we can serve.”
