Before you make any investment, speak to the HMO licensing officer at your local authority. Before you invest, make sure to check the local definitions and licensing requirements. These may include minimum kitchen size, living space, kitchen facilities and number of toilets.
What is an HMO Mortgage? HMO mortgages are mortgages that landlords use to rent out their properties to more than three tenants. These mortgages are specialized in buy-to-let and have key differences.
A number crunching is necessary to make an HMO a profitable one. Our HMO mortgage specialists can help you maximise your rental income. They will also assess your proposal. You can make your HMO as profitable and profitable as possible by securing a great deal. A majority of lenders offering preferential rates do so via mortgage brokers.
Landlords may manage their HMO property using a single "joint & severally liable" agreement or one for each tenant.
Number crunching will make your HMO more profitable. Our HMO mortgage advisors are experts and can help maximise your rental income. Securing the best deal for your HMO is key to making it profitable. Majority of lenders that offer preferential rate often do so through mortgage brokers.
A House in Multiple Occupation may be more lucrative than traditional buy to let. Low-interest rates make it possible for landlords to maximize rental yields. There is a lot of demand for rentals in the UK. It is crucial to have the right mortgage in order to maximize your rental income.
These higher potential returns come with greater risks. There is a greater chance of having a higher turnover rate than with traditional buy-to-let. Every additional tenant is an unknown factor (e.g. Will they pay rent? They will cause damage. They could cause disputes. A specialist mortgage is also required.