According to the lender, the Specialised Residential Investment product is aimed at landlords with larger portfolios or those with specialised assets, such as houses of multiple occupancy or multi-unit freehold blocks and will allow the bank to support landlords with debt requirements ranging from £500,000 to £10m.
The flexible PBTL and Specialised Residential Investment products provide landlords with one loan secured by multiple properties allowing landlords to add properties to the loan as their portfolio grows, or potentially recycle equity within their portfolio as assets are traded. Both products are available to Ltd company, LLP, or individual borrowers.
Its standard PBTL product is for landlords with debt requirements of up to £5million or fifteen properties, with rates from 3.55%.
Its Specialised Residential Investment product has been designed for landlords with larger portfolios or those with specialised assets, such as HMOs, MUBs, or development refinance, with a maximum loan size of £10million. There’s no cap on the number of properties owned and rates for this product start from 3.75%.
Mike Clifford, Head of Buy To Let at Hodge, said: “We have been very successful with our flexible PBTL product, but felt that to better serve landlords across the spectrum we needed a specialist product that can adequately cater for those with complex needs. Particularly those larger landlords who have a portfolio that require specialist underwriting capabilities.
“Hodge’s offering is about flexibility and finding solutions that work for our customers and brokers, that’s why we underwrite and manage all our or loans on a portfolio, rather than individual asset basis.”
Mike concludes: “We realise that not all property portfolios are the same and work with brokers and landlords to help them achieve their strategic aims with these loans. We believe by introducing products such as this, we can better support investors, allowing them to focus on managing their portfolios.”
