TUSCAN CAPITAL LAUNCHES HMO PRODUCT RANGE
05 Nov 2020
Bridging lenderTuscan Capitalhas launched a new range of products aimed at investors looking to grow their exposure to the HMO (Houses in Multiple Occupation) market by building a significant portfolio of assets.
The lender said it had been encouraged to make the move following increased demand from property professionals seeking long-term revenue streams and above average yields difficult to achieve through conventional Buy-to-Let investment strategies.
Tuscan Capital confirmed the following key features for its new lending packages:
• Funding available up to£3,000,000
• Funding of purchase price upto 75% LTV
• Funding ofrefurbishment costs up to 100%
• Funding up to a total of 65% LTGDV
• Transparentdrawdown process
Colin Sanders, Tuscan Capital’s CEO, said: “More property professionals are now turning to HMOs as their long-term strategy choice for real estate investment.
“Higher-than-average yields can be achieved if landlords are prepared to invest in providing high-quality, self-contained accommodation with an element of shared services and which meet the licensing regulations of the local authority.
“With the average age of first-time buyers increasing, and the levels of guaranteed income and deposit required to buy a property on the rise, the demand for affordable rental accommodation in cities and commutable locations has never been greater.”