HMO Mortgage2018-09-17T07:57:43+00:00

What Is An HMO Mortgage?

HMO (House in Multiple Occupation) is a term used by the government to explain a property rented by various different tenants (three or more) rather than the more typical household.

An HMO mortgage is a loan used to purchase an HMO, with the property used as security for the debt.

Whether you’re a first-time landlord or a seasoned investor, our dedicated advisors are here to make the process of financing an HMO mortgage simple.

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Latest HMO Mortgage Offers

View some of the latest HMO mortgage offers from leading lenders.

Product HM0002 - Apply Now
Interest Rate
1.64%
Type
2 year fixed
Revert to Rate
5.99%
Lender Fee
£999
Max LTV
60%
Max Bedrooms
5
Loan Size
None - £500,000
Applicant Type
Sole name only
First Time Landlord
No
Product HM0010 - Apply Now
Interest Rate
2.69%
Type
2 year fixed
Revert to Rate
4.84%
Lender Fee
No fee
Max LTV
75%
Max Bedrooms
5
Loan Size
£25,001 - £1,000,000
Applicant Type
Sole name only
First Time Landlord
Yes
Product HM0028 - Apply Now
Interest Rate
3.90%
Type
2 year variable
Revert to Rate
5.50%
Lender Fee
No fee
Max LTV
80%
Max Bedrooms
8
Loan Size
£25,001 - £1,000,000
Applicant Type
Sole/Ltd Co.
First Time Landlord
No
CLICK HERE TO COMPARE MORE MARKET LEADING PRODUCTS

Why Choose An HMO?

HMO property is quickly becoming more popular due to its higher rental yields than single lets. This, in turn, means increased profits for landlords.

As financing an HMO is more specialist, people will often choose to work with an experienced broker. In this role, ABC Finance Ltd secure our clients the best possible deal and help prepare them for the process ahead.

Typical Types Of HMO Property accepted

Many properties used as HMOs are houses or large buildings which have been converted specifically for this purpose. Many people require help and advice when looking to approach lenders to fund this kind of project. We have a trusted panel of lenders that can accommodate almost any circumstances and are able to lend on almost any property type, including:

  • Converted hostels
  • Converted B&Bs
  • Blocks of flats
  • Shared houses on single or multiple ASTs
  • Houses converted into bedsits
  • Student halls & flats
  • Converted bedsits
  • Employee housing

Does It Take Longer To Apply For An HMO Mortgage?

As HMO finance may be thought of as a more specialised mortgage than a normal buy-to-let, processing times could take a little longer. It mostly depends on the type of application and the property or location. A simple HMO should take around the same as a buy-to-let mortgage but a more complex HMO could take longer.

If you have a completion deadline, you should make us aware upfront so we can make sure this is feasible. We have access to a large number of HMO mortgage lenders to suit properties ranging from smaller multi-lets with only a few tenants to a large multi-unit block.

Our team of expert advisors are on hand to talk through your circumstances and we send you terms out within two hours.

Secure the best HMO mortgage rates with ABC Finance Ltd. If you require more information call us now on 01922 620008.

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