Key Features

You will have read in the section above that there are general rules on when an multi let, HMO property requires a licence. But the local council can change this and implement their own requirements. Lenders therefore cannot keep track on which councils have moved away from the general definition of when a licence is required.  The lender will therefore require confirmation in writing or email, from the council when the property does not require an HMO licence.

For HMO’s properties that do not require a licence the next important factor in selecting a lender is:

  • Will the lender value the property based on the market rent as a multi let, HMO or a single family rent. This is extremely important to you and your HMO mortgage broker because lenders assess this differently and the amount you can borrow is dependent on the market rent.
  • The number of tenants. Some lenders limit the number to 4. Some lenders have no limit.
  • Does each tenant have their own tenancy agreement or have they signed one tenancy agreement?
  • Do the rooms have locks on the doors? This will be reported to the lender by the valuer when they visit.

You will see that mortgages for HMO or multi let properties can be complicated and this is why it is best to talk to an HMO mortgage broker, who is very active in this market. It is a complicated sector that is changing all the time and if you wish to avoid wasting time and money, then please call us for a free assessment.

  • Gain access to our expert knowledge of the sector
  • Mortgages for buying multi-unit freehold blocks of flats
  • Remortgaging a multi-unit freehold block of flats
  • 100% mortgages for multi unit freehold blocks of flats with additional security
  • 75% mortgages without additional security
  • Interest only mortgages available
  • Fixed rate options available
  • Terms 3 to 30 years

Multi unit freehold blocks of flats are just one area of expertise we deal in. We can also provide mortgages for multi let properties. Also sometimes known as HMO properties except they don’t require a licence.

Key Information and Benefits

  • Speak to a consultant today for a free personal consultation and they will handle your case from enquiry to completion
  • Flexible and creative financing solutions to meet your needs from our panel of 100+ lenders
  • Loans/mortgages from £100,000 to £20 million (smaller loans only considered in exceptional circumstances)
  • Market leading interest rates. The actual interest rate will depend on the risk, quality of the credit profile and the purpose of the loan/mortgage
  • Lowest overall cost of financing will be considered for your individual case
  • All incomes levels, evidence of income, credit histories and funding requirements will be considered
  • High loan to values available 100%+ funding can be achieved with additional security or by introducing more than one lender to a case
  • Financing terms can be short term (a few months) or long term (many years) to suit your needs.