These are mortgages secured on properties with 3 or more tenants of different households. Lenders view these mortgages as significantly more complicated than traditional letting as involves multiple parties.

 

HMO's and multi-lets are a very profitable sector of the market as multiple tenants tend to pay higher rents than one single family

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A few examples:

• Students

• Housing for employees

• Shared houses and flats

• Multiple flats on one freehold

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However lenders operating in this area are very limited. Those available can have rules and criteria which require expert interpretation. We have the experience to know these rules and so find the best lender and product for you. We can also help you regardless of whether it is licensed or unlicensed.

 

HMO and Multi-let lending criteria 

To be success with your mortgage application, lenders will often assess the following criteria:

• Your personal experience of being a landlord.

• Whether you have a HMO license or not. 

• Location of property.

• Classification of tenants (Students, professionals, etc.)

• Rental income. 

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It is important to note, some lenders are more lenient than others when concerning this criteria. 

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What can we do to help.

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We have been operating for a long period of time and so have a huge amount of knowledge on these rules and criteria of lenders. This means we can find a mortgage on your behalf, especially if you are finding it difficult to do so. In addition to this, we will get you very competitive rate.

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