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Multi Unit Blocks
MUB’s are, in short hand, blocks of flats on one freehold title. Sometimes those flats are unusual, with studios of less than 30 square meters. Some units may be in an annex, the units may be let as small HMOs (a block of 6 flats, 2 of which are 4 bed HMOs, for example).
Developers often have to weight up the costs and benefits of splitting titles on completion, these properties usually result from developments where the title has been left as one.
Multi Unit Block Mortgages
Most Multi Unit Blocks fit onto the same mortgage products as HMOs. The Lender may want to know further details, like if services are split and sizes of the units.
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Limited Company and Limited Partnership Accepted
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Up to 80% LTV
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Variety of Property styles and layouts accepted
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Up to 20 units and beyond
Multi Unit Block Bridging & Development
It is a common development strategy to buy a large house and split it into flats. Developers can judge both the rental income and square meter sales price of MUBs to be significantly higher than one large unit. These developments often have high build costs and high gross development values, and as such can be a good fit for development finance.
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Funding for up to 75% of the site value
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Funding for 100% of build costs
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Ad Hoc terms negotiated