HMO Financing
A House in Multiple Occupation (HMO for short) is a property with shared facilities like bathrooms and kitchens which is rented by 3 or more people that aren’t part of the same “household” or family. This definition includes all kinds of shared properties, from university halls to B&Bs, which need different types of mortgages than simple buy-to-let properties.
NORMAL HMO
require any special licenses.
LARGE HMO
special licensing.
Depending on the size and the individual councils, HMO’s
may need some special licensing arrangements which makes
it trickier to finance. Using our special relationships with our
HMO lenders we are confident we can facilitate any HMO
purchases you may have or be considering. Although HMOs
can seem like a lot of extra work, they can be extremely
lucrative investments, as you’re making 4 or 5+ times the
revenue of a single occupancy buy-to-rent property.
Unfortunately, most lenders don’t offer HMO financing,
meaning you’ll have to look further afield to find a mortgage
provider for your HMO plans. In order to find the right
financing plan for your HMO project, we’ll search the whole
market, including specialist and boutique lenders.
