StrideUp, the UK Shariah-compliant home finance provider, has reduced rates across its Houses in Multiple Occupation (HMO) and Multi-Unit Freehold Block (MUFB) Buy-to-Let range and introduced an enhanced procuration fee for intermediaries, effective 1 August 2026.
Brokers submitting cases directly will earn a procuration fee of 0.75%, while those placing business via a network or club will receive 0.80%. The offer runs until 31 August 2026 and is open to all FCA-registered broker partners, regardless of whether they hold Home Purchase Plan (HPP) permissions. The rate reductions apply across both two-year and five-year fixed rental terms.
The deal
The pricing move follows an expansion of StrideUp’s specialist criteria announced earlier this year, which doubled its HMO limit to 12 bedrooms and its MUFB limit to 10 units. Financing is available at up to 75% finance-to-value and up to £2.5 million per property, a threshold the company says is designed to serve professional landlords operating at meaningful scale.
Rizwan Ali, director of sales and marketing at StrideUp, said: “We doubled our HMO and MUFB limits because brokers told us professional landlords had limited Shariah-compliant routes at this scale. Cutting rates and enhancing the proc fee at the same time is deliberate, the client gets a lower price from StrideUp and the broker is better rewarded for the work these specialist cases involve.”
It is worth noting that StrideUp’s Buy-to-Let Purchase Plans are not regulated by the FCA, a standard feature of Islamic home finance structures in the UK, where the product is structured as a purchase plan rather than a conventional mortgage to remain compliant with the prohibition on interest.
Market context
The UK Islamic home finance market remains a niche within the broader specialist mortgage sector, but it is a growing one. A small number of FCA-authorised providers, including Al Rayan Bank and Gatehouse Bank, operate in the residential and buy-to-let space. StrideUp competes primarily in the retail and semi-professional landlord segment, and its decision to raise the HMO and MUFB caps positions it closer to the commercial property finance territory where Islamic finance alternatives remain limited.
The enhanced procuration fee is a deliberate distribution lever. Specialist HMO and MUFB cases carry higher processing complexity than standard buy-to-let, and the intermediary market has historically been reluctant to prioritise them unless the fee compensates adequately. At 0.80% via network or club, StrideUp is pricing above several mainstream buy-to-let proc fee benchmarks, which typically cluster between 0.35% and 0.50% for vanilla products, though specialist cases can command more.
The window is short: submissions must be placed by 31 August. Brokers with professional landlord clients who have pipeline cases, particularly those with larger multi-unit portfolios that previously sat above StrideUp’s old criteria limits, have a narrow commercial opportunity before the offer reverts. The company says full criteria and current rates are available through its intermediary portal or via its business development manager team.
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