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MFB secures buy-to-let funding

Mortgages for Business has revealed it has secured access to mortgage funding for rental properties, freehold conversions and limited companies.

The funding comes through Aldermore, which has named a select panel of brokers, one of whom is Mortgages for Business, who will have exclusive access to the funding.

Mortgages for Business can now provide landlords with access to funding for Houses in Multiple Occupancy, freehold conversions and properties held in the name of a limited company.

Aldermore has told MFB it will consider the majority of commercial and residential property types and will lend to limited companies.

MFB managing director David Whittaker says: “We know landlords and property investors are struggling to find finance for HMOs and freeholds split into several self-contained units. Many of the lenders who were happy to lend on this type of property have taken a leave of absence from the market during the credit crunch. This has left many investors high and dry when it comes to mortgage finance.

“Now, finally, there are some other options. In the residential investment arena, funding options are improving. But access to these funds may be limited so I am urging landlords and buy-to-let investors to act promptly.”

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