Range of New Specialist Mortgage Products Launched

20 February 2014

The Society has launched a selection of new and exciting mortgage products aimed at niche sectors of the housing market which are now available direct to consumers for the first time.

The new mortgage products cater for specific needs, namely Houses in Multiple Occupation (HMO), Holiday Lets and Purchase for University.

Houses in Multiple Occupation (HMO)

HMO Mortgages are available:
• Where the property is occupied by five or more adults or has five or more lettable rooms and is located in an area commensurate with multi-letting.
• Where the property is subject to Houses in Multiple Occupation licensing.
• Where there is more than one tenancy in place.

Holiday Lets

• Holiday Let mortgages are available to existing home owners who would like to purchase or remortgage a property which is used for holiday letting and is situated in our geographical lending area.

Purchase for University

• Purchase for University is available to students who are in Higher Education in postcode areas NP, CF, SA, LD, GL, HR, WR & BS.
• The property can be purchased solely in the name of the student or together with parents. Where the property is purchased solely in the name of the student, parental guarantees will be required.
• The property must be occupied by the student, but other rooms can be let on Assured Shorthold Tenancy agreements.

Specific lending criteria is attached to each product type. Terms and conditions apply.

All of these new products are restricted to postcode areas: NP, CF, SA, LD, WR, GL, HR & BS.

Find Out More >>

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