Product Criteria

Multi-unit Freehold Blocks (MUFB)

MUFBs can be purpose-built blocks of flats or houses that have been converted into separate units.
What we look for:
  • Loan-to-Value (LTV): Up to 75% (or 77.5% including fees)
  • 6 units or more (small MUFBs with 5 or fewer units qualify for our standard Buy-to-let product range)
  • Experienced landlords with at least 12 months of letting experience.
  • High-quality assets in strong rental and resale locations.
  • The property should meet the Decent Homes Standards and not be described by valuer as being in poor condition.
  • Net rental income must be able to cover the required ICR thresholds calculated using the required ICR stress rate (125% Corporate & 140% Personal).
  • Minimum internal floor area: 31sqm GIA (35sqm GEA equivalent). 
  • Minimum value per unit: £135,000.
  • Minimum loan amount: £300,000
  • Maximum loan amount per unit: £10m
  • Maximum aggregate exposure: £20m
  • Repayment types: Capital & Interest, Interest-Only, and Part & Part.
  • Maximum term:
    • Up to £2 million (including fees): 25 years.
    • Over £2 million: 10 years.
  • Minimum EPC of C, or a costed plan to get from D/E to C
  • Valuation is based on the lower of:
    • The block/single investment value, or
    • The aggregate value of the individual units

Check our product criteria

Find out more about our risk appetite before you apply. 
 

Investment criteria

View our criteria for industrial, offices, leisure and retail sectors.

How to apply

Check out our useful guides and find out more about our processes and support that we offer. 

Meet the team

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