StrideUp has expanded its buy-to-let purchase plan (BTLPP) criteria and now accepts houses in multiple occupation (HMOs) with up to 12 bedrooms and multi-unit freehold blocks (MUFBs) with up to 10 units.
The UK Sharia-compliant home finance provider has doubled its HMO and MUFB capacity.
It said the product can now cater to larger, professionally managed portfolios. StrideUp said Sharia-compliant options and typically limited within this space.
StrideUp also increased the maximum financing limit to £2.5m.
This move is in step with the greater professionalisation of landlords over the last year.
Rizwan Ali, director of sales and marketing at StrideUp, said: “Landlords operating larger HMOs and multi-unit blocks have had very few Sharia-compliant routes available to them, and brokers have told us this consistently.
“Extending our criteria to 12-bedroom HMOs and 10-unit MUFBs means intermediaries can now place cases for professional landlords who were previously locked out of values-aligned finance at this scale. It’s a straightforward change with a meaningful impact on who we can serve.”
StrideUp said it is working to expand its intermediary network, having recently made its Sharia-compliant home purchase plan (HPP) available through New Leaf Distribution.