Tuscan Capital unveils HMO product range
Bridging lender Tuscan Capital has launched a new range of products aimed at investors looking to grow their exposure to the HMO market by building a significant portfolio of assets.
The lender said it had been encouraged to make the move following increased demand from property professionals seeking long-term revenue streams and above average yields difficult to achieve through conventional buy-to-let investment strategies.
Tuscan Capital confirmed a series of key features for its new lending packages, including funding available up to £3m and a transparent drawdown process.
Colin Sanders (pictured), chief executive at Tuscan Capital, said: “More property professionals are now turning to HMOs as their long-term strategy choice for real estate investment.
“Higher-than-average yields can be achieved if landlords are prepared to invest in providing high-quality, self-contained accommodation with an element of shared services and which meet the licensing regulations of the local authority.
“With the average age for first-time buyers increasing, and the levels of guaranteed income and deposit required to buy a property on the rise, the demand for affordable rental accommodation in cities and commutable locations has never been greater.”