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Wednesday, February 08, 2017

HMO finance - purchases and re-mortgages

There is plenty of choice for landlords looking to purchase or re-mortgage Houses in Multiple Occupation (HMOs).

For example:

Axis Bank - offering a range of specialist buy-to-let products for HMO properties aimed at experienced landlords with at least three existing buy-to-let properties. Axis will consider a maximum of 6 bedrooms, non-licensed HMOs, individual ASTs and up to 75% loan-to-value.

Paragon Premier - one of the key lenders for professional landlords with HMO properties, offering fixed and variable rate products up to 80% loan-to-value on its Premier range, with a lending aggregate of £10 million. Paragon will consider up to 20 tenants with multiple or single ASTs and assess the rental income on a room by room basis.

Kent Reliance - a popular lender for HMO properties with an unlimited aggregate lending policy for professional landlords and the only current provider of 85% loan-to-value mortgages.

Kent Reliance also has no minimum income requirement and accepts first time landlords (up to 80% LTV).

Other lenders servicing the HMO sector include: Aldermore, Fleet Mortgages, Kensington, Landbay, Precise Mortgages and Shawbrook Bank.

Email:info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446
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