The Bank recently introduced a new approach to buy to let and HMO valuations which included new valuation fee scales and lending based on investment value. Taking these measures one step further, they have now rationalised the HMO submission process as follows:
Precise Mortgages – HMO applications up to 6 bedrooms
Kent Reliance for Intermediaries – HMO applications up to 8 bedrooms as standard or more by exception
InterBay Commercial – any size HMO application with no limit on bedrooms
Alan Cleary, Group Managing Director, Mortgages, OneSavings Bank, said: “Ultimately for brokers, these changes ensure that their HMO cases will be directed to the specialist teams that are best placed to handle them, regardless of size or complexity. Whether the cases involve investment valuations, large loan sizes or even complex company structures, we have the expertise within the OneSavings Bank group to consider every case.
“Intermediaries are absolutely fundamental to the success of the group and pivotal in providing borrowers with successful outcomes. Our message to them is ‘watch this space’ as there will be many more exciting developments ahead.”
