Mortgages for HMO Property with Multiple Flats in One Freehold Title
he mortgages listed below can accommodate multiple flats, bedsits and studio flats within a single freehold title. In some cases, this will extend to multiple units within a leasehold title, as with flats above a shop.
Generally for experienced landlords looking to expand their portfolio, or raise capital from an existing property. However there are also options for applicants who are homeowners and looking to buy an investment property for the first time. Any size property can be mortgaged and there are lending options for properties anywhere in England, Scotland & Wales.
- Properties with multiple flats within a single freehold title (or leasehold title)
- Bedsits and studio flats also considered
- Expats welcomed
- Any number of self contained units in the block
Applicants should have owned their main residence, or an investment (BTL or HMO) property for at least 12 months. Applicants should be able to demonstrate a good level of personal income and have good net worth. A clean credit history is required, but not essential in some circumstances
- UK passport or UK driving licence for ID
- Evidence of deposit funds (bank statement)
- Able to provide proof of income; employed, self employed or pension
- No minimum income requirements in some cases
- Some adverse credit may be acceptable if historic and satisfied
- Applicants can be employed, self employed, or retired
- Previous letting experience required for properties with more than 4 flats in the title
- Applicants should be a homeowner
Types of property
Blocks of flats, or studio apartments with any number of letting units. Purpose built blocks, or conversions and new builds all acceptable. Mortgages available for the single freehold title, therefore individual leaseholds are not required.
- Property in England, Scotland & Wales
- Blocks of flats
- Studio apartments (any size considered). Studios with a floor area of less than 30 sq m
- Purpose built blocks
- Single freehold title
- Individual leasholds not required
- Corporate tenant such as local housing authority accepted
General Lending Criteria
Mortgages are available for purchase, or remortgage up to 85% of purchase price, or property value. Some mortgages with no lender’s arrangement fee. Options with no early repayment charge (ERC). Tenants can be working professionals, or the property can be let to a corporate body, such as a local authority, or housing association for DSS, or people on housing benefits.
- Purchases or remortgage
- Interest only or capital + interest repayment
- Properties in England, Scotland & Wales, accepted
- Up to 85% LTV for blocks of flats in one freehold title
- Options for no early repayment charge (ERC)
- Options for no lender arrangement fee
HMO-1 – Experienced landlords only. Any size property considered. Maximum 75% LTV
HMO-2 – Maximum of 20x flats in one freehold title. Large range of mortgage products
HMO-3 – Experienced landlords only. Any size property. Lends in Scotland. Maximum 75% LTV
HMO-4-75 – Maximum 4x flats in the title. Minimum loan size £150,000. Maximum 75% LTV
HMO-4-80 – Maximum 4x flats in the title. Minimum loan size £150,000. Maximum 80% LTV
HMO-6-85 – Maximum 4x flats in the title. Minimum loan size £150,000. Maximum 85% LTV
HMO-7 – Any size property. Lends in Scotland. Low interest rates. Repayment mortgage only.
HMO-8 – Up to 20x flats in one freehold property. Maximum 85% LTV. Flexible underwriting.
Residential Multi-let Investment
Contact us on 0117 223250 to discuss your requirements with a Buy To Let mortgage specialist
Mortgage Application Assistance
We can even complete the mortgage application on your behalf. The mortgage adviser can help you complete the application over the phone or email.
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