Licenced HMO

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HMO mortgages

As independent specialist mortgage brokers, without ties to a restricted mortgage panel, means we have access to more lenders and this enables the opportunity to access typically better mortgage rates.

HMO mortgage rates by Loan to Value

  • From £50,000 value up to £10 million
  • Any number of rooms
  • Social, students or working tenants
  • Up to 85% loan to value
  • Properties based in England, Wales, Scotland and Northern Ireland
  • No minimum income
  • No landlord experience

Check the latest HMO Mortgage rates for Loan to Value

You may pay a higher interest rate than a standard single family let mortgage, but you will gain a higher rent and possibly earn more money (or it is not worth the additional work).

What is a HMO mortgage?

HMO Mortgages are for properties which require the owner to obtain a HMO license. The HMO mortgage costs are increasingly becoming more and more competitively priced. As a result of a greater number of mortgage lenders are now lending on these HMO let property types. The traditional HMO mortgage lenders are increasingly competing for this business and re-pricing their mortgage rates down or amending their lending criteria. Towards the end of 2014, we saw mortgage lenders continually reduce rates and now these are expected to be as low as they can go. The other option that a mortgage lender have, is to amend their lending criteria.

We are also seeing the number of local Council who's 'interpretation' and adoption of compulsory HMO licensing for multi-let properties is on the increase, which in turn also increases the requirement for mortgage lenders to offer this type of mortgage product. We are very experienced in Advising on HMO mortgage products and when in receipt of all the facts, as independent mortgage advisers we will recommend which lender and more importantly which products offer you the best finance.

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Your home may be repossessed if you do not keep up repayments on a mortgage or any other debts secured on it. Think carefully before securing other debts against your home. Buy to let (pure) and commercial mortgages are not regulated by the FCA. No broker fee is charged typically; as commission received from the mortgage lender pays our minimum fee of £495 and any shortfall will be charged only on completion of your mortgage. Vincent Burch Ltd. is an Appointed Representative of JLM Mortgage Services Ltd., authorised and regulated by the Financial Conduct Authority, (FCA), registration number: 300629. The overall cost for comparison is 4.19% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.

© Vincent Burch 2014 - 2015