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Mortgages for HMO's
Mortgages on HMO properties are not easy as some lenders hold their hands up in horror at the thought of multiple let properties with all the problems that could arise if the landlord is not very thorough.
As an investment HMO’s are almost an essential part of any professional landlord’s property portfolio, as the rental coverage of any mortgage repayments is normally a very strong one, and makes the investment an excellent purchase.
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The overall cost for comparison is 5% APR. The actual rate available will depend on your circumstances. Ask for a personalised illustration.
More About HMO Mortgages (High Multiple Occupancy)
Our lenders will only lend to experienced landlords, with a track record of investment properties that have been run successfully, and who fully understand the regulations involved in running HMO property.
We can arrange mortgages at 80% LTV with a minimum loan of £25.000, and in most cases a maximum loan of £2mill, but this is a guide only, and for the right property, we do not have a maximum loan, although the loan to value may reduce, depending upon the quality of the proposal.
We have a number of lenders who will lend on HMO property but the quality of the proposal, the experience of the landlord and the geographical position of the property will all have a bearing on the decision to lend.
With over 40 years of experience in financial services we have the knowledge and the contacts to find the right product for you in this very difficult market. Call Michael J Alexander today on 03452 605506 and see how we can help you to achieve your goals.