The buy-to-let lender will now lend to landlords renting to students where there is a maximum number of five tenants on one assured shorthold tenancy agreement, in line with its current lending policy. Previously, it would not lend to these types of landlords.
However, it will not lend on houses in multiple occupation, as was the case before.
BM Solutions are currently one of the two biggest buy to let lenders in the UK, so it is very good news that they are now looking to extend their criteria.
At Limetree, we not only have access to BM Solutions, but many other lenders who will also consider student lets. Some of those lenders will also consider houses of multiple occupation, which BM Solutions presently do not.
With large numbers of students looking for accommodation in Cambridge, the right type of buy to let property could be a very good type of investment.