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HMO interest only mortgages

 Mortgages for all HMO type Property

Mortgages for HMO property with rooms let, or bedsits, where there is a degree of sharing a toilet, bathroom and kitchen facilities. Tenants can be students, or working professionals

Mortgages for Multi-Unit property with a number of self-contained apartments, or studio flats in the same freehold (or leasehold) title, where there are no shared facilities.

Other properties with different occupancy configurations are also acceptable with some of our lenders.

No Obligation Mortgage Quote

We can arrange all the best deals in the market for HMO properties.

HMO Mortgages available up to 85% of purchase price, or property value. We have access to the whole of the market including BTL and specific HMO mortgage lenders. Products for HMOs and Multi-Lets with generous rental income assessment and some with no minimum personal income requirement.

Examples of property types:

Licenced HMO with no maximum number of rooms let

  • HMO with 5 rooms let
  • HMO with 6 rooms let
  • HMO with 7 rooms let
  • HMO with 8 rooms let
  • HMO with 9 rooms let
  • HMO with 10 rooms let
  • Larger HMO with combination of rooms let, bedsits, studio flats

 

We can arrange the following:

  • HMO mortgage for non licenced HMO
  • HMO mortgage for newly converted HMO with licence not yet issued
  • HMO mortgage for student let houses or flats
  • HMO mortgage for student halls of residence
  • HMO mortgage for property with Local Authority contracts for housing placements
  • HMO mortgage for multiple self contained flats in the same freehold property
  • HMO mortgage for blocks of purpose built flats
  • HMO mortgage for property with bedsits and studio flats

 

Mortgages are also available for the following property types:

  • Small developments of houses on one freehold
  • New-Build properties
  • Flats above shops
  • HMO above commercial property
  • HMO adjacent to commercial property
  • Ex-local authority properties
  • Leasehold property
  • HMO where the owner lives in
  • Properties with flying freeholds
  • All UK mainland areas

 

We have lenders who can accommodate the majority of circumstances .

lending criteria details:

  • Fixed rates, or Bank of England tracker rates
  • Maximum lending up to 85% of purchase price/property value
  • Interest-only
  • Repayment terms from 3 years to 30 years
  • First-time landlords welcome
  • First-time buyers welcome
  • Lenders arrangement fees as low as 1% and can be added to the mortgage
  • No lender fee
  • Single tenancy agreement or multiple tenancy agreements
  • Limited companies accepted (trading company or SPV)
  • No maximum number of existing properties in your portfolio
  • Family gifted deposits accepted
  • Flexible attitude to personal income
  • No proof of personal income to 65% LTV (experienced landlords only)
  • Company lets
  • Mortgages with no Early Repayment Penalty

 

No Obligation Mortgage Quote

 

Lowest HMO Interest Rate

  • A fixed rate of 2.89% for 2 years
  • Followed by a further discount of 1% for another 3 years
  • Maximum of 60% LTV
  • Maximum 5 tenants – can be students, or working professionals
  • Lender’s arrangement fee is only £800, plus a booking fee of £199

 

We can also arrange legal conveyancing with solicitors who will also be acceptable to our lenders. This can substantially reduce the cost of purchase or remortgage. However, some lenders do insist on using their preferred firm of solicitors.

To discuss your specific requirements, please call 0117 223 2050 today and speak to an expert adviser.

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