Houses in multiple occupation (HMOs) fall into two distinct segments from the perspective of a mortgage lender:
You will see in the definitions above that the main criteria are the number of tenants and the number of floors in the property. It is important to know that although the above definitions are correct, each Council has the authority to change them. We have come across a council that requires HMO licenses for properties with as few as 3 tenants and only 2 floors.
You can now gain access to the best solutions in the market. We are experts in arranging mortgages for HMO properties that require a licence and have a choice of 7 HMO mortgage lenders that are very active in providing HMO mortgages.
This choice of 7 HMO mortgage lenders allows us to arrange HMO mortgages from 3 rooms up to an unlimited number of rooms. And at least 4 of these lenders are on restricted panels which means only selected brokers have access to them.
With access to both the buy to let HMO mortgage lenders as well as the HMO commercial mortgage lenders, we can provide you with the widest range of products currently available in the market. We can assist if you are a first time HMO landlord or a professional landlord with many HMOs.
Operating an HMO brings benefits in terms of higher rental yields and income. But at the same time there is a responsibility under law to ensure the property meets requirements for:
Please note: HMOs are not to be confused with bedsits. Bedsit properties rented rooms in houses which share a bathroom with other tenants but has its own kitchen facilities.