Get Advice From The HMO Experts
Understandably many landlords have moved toward HMO mortgages over the last few years to enable higher yields and maximise profits.
That being said, having a multi-tenanted property may seem complex at first. But with the right advice, getting not just a good HMO mortgage, but a great HMO mortgage can be quick and easy.
As a whole of market Buy to Let specialist, that’s just what we can do for you. Our team of mortgage experts know the HMO market inside and out, so with one phone to us, you can find the best mortgage to boost your profits further.
This Week’s Best HMO Mortgage deals
|LTV %||Final rate (SVR)||Maximum bedrooms?|
|Fixed||3.05%||2 years||1% of the loan||70||4.20%||No Limit|
Get The Inside Track On HMO Mortgages
Here are some of the benefits of choosing an HMO Mortgage:
- You can secure larger mortgages up to £10m.
- You can borrow for larger Suis-Generis properties.
- You can borrow for properties for students, professionals, Corporate lets and more.
- Individual or shared tenancies can be considered.
- Guaranteed rental schemes allowable.
- Schemes for first-time landlords available.
- You can finance properties at HMO licence application stage.
- You can combat tax changes with higher-yielding property.
- You can split your void risk by letting by room.
- You can secure Interest Only and flexible term lending.
- HMO property types include a block of flats, bedsits, Privately operated halls of residence, shared self-contained flats, cluster flats, lodgings and hostels.
With any property, we strongly recommend that you seek professional tax advice as well.
In A Hurry? Talk To An HMO Expert Right Away
Why You Should Call Us Today
When dealing with a house of multiple occupancy there are many factors to consider but by using a specialist mortgage broker like us, you can save a lot of time, money and stress.
With one quick phone call to us:
- You’ll get a 100% free quote that has all of our expert advice and recommendations. There’s also zero obligation.
- You’ll get human expertise backed by the latest tech. Not just an automated response.
- You’ll get a true whole of market comparison – we work with every lender on the market.
- You’ll get all of our unparalleled knowledge of the HMO market – including licensed and Unlicensed HMO.
- You’ll get unlimited access to all HMO lenders.
- You’ll get mortgage advice based on the true total cost, including rate and all fees.
- You’ll get access to exclusive & semi-exclusive schemes.
- You’ll get access to the real decision-makers – including underwriters, credit managers & senior personnel.
- Your credit score is safe – there are no credit checks to get your free quote.
- You may be able to borrow more. We can give you access to a number of schemes which go past the normal limits.
- You’ll get access to the four major accountants and specialist conveyancing.
- You’ll get zero pressure from us. We’re here when you need us.
HMO Mortgages – the detail
Since October 2018, many more properties have fallen under the remit of a licenced HMO, this is down to the HMO definitions being more broadly defined than ever before – and many landlords have therefore found themselves needing to comply with these new minimum requirements.
The HMO mortgage market generally sits away from the usual vanilla Buy to Let space (there are one or two notable exceptions to this) more often than not, this can mean a new Licenced HMO lender is required…
Of course, if you’re looking at remortgaging or purchasing an existing HMO, knowing how and where to get the best possible mortgage products with a lender that allows a licenced HMO to your requirements is an absolute must.
An HMO today is defined as a single dwelling, rented to 5 or more people from at least 2 separate households sharing basic facilities ie kitchen or bathroom. All properties fitting this basic definition will require a licence. And importantly may also require planning permission for the area they are located in too. Councils often use Article 4 to restrict or control HMO numbers in a particular vicinity.
HMO mortgages are much of what we do here at The Buy to Let Broker and form an integral part of our lending, we deal with all lenders in this arena and have dedicated underwriters and senior contacts at these lenders, simply because we produce a significant volume of quality business and lenders want to assure us of high service levels, which in turn helps our clients.
Examples of the type of questions we’ll typically ask you to ascertain where we can obtain the most competitive funding will be;
How many bedrooms does the property have? How many is it licenced for? What is the tenancy structure? Tenant type? How much landlord experience do you have? Does it require planning permission?
All of these questions ensure we can manage your expectation correctly as to the products available, ensures the highest degree of certainty we can give very early in the process and mitigates the chances of any disappointment later down the track.
This does also result in us having a very accurate barometer on which lenders will allow what in terms of criteria and we analyse this area of business very carefully to keep our knowledge honed.
We’re conversant in all types of property legislation including Article 4 direction and larger Suis Generis HMO’s, so you can be sure your portfolio is in safe hands.
Start Living Your Best Landlord Life
Never accept an average mortgage, speak to one of our HMO mortgage experts today to get the inside track on the latest deals and lowest rates. To get started for free now, simply enter your details below and we will be in touch shortly.
If you are in a hurry, you can give us a call on 08009499410 to get your no-obligation free quote.
Platinum Trusted Service Feefo Winner 2020 & 2021 ⭐️⭐️⭐️⭐️⭐️
We’d strongly recommend that you take professional property tax advice prior to entering into any buy to let ventures.