Paragon relaunches HMO and MUB loans

Paragon Bank relaunches limited edition HMO and MUB loanshttps://t.co/QhnOspsPsm

— Mortgage Strategy (@MortgageStrat) August 10, 2021

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Edinburgh landlord set to lose HMO licence

Edinburgh landlord set to lose HMO licence after falsifying electrical safety certificate - https://t.co/FGz14L3sD1 #GoogleAlerts

— Property Hawk (@landlordnews) March 9, 2020

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Brighton's city-wide Article 4 direction

A city-wide Article 4 direction is to be introduced in #BrightonandHove this summer https://t.co/GWwyGPKHIZ

— RLA Landlord News (@RLA_News) January 28, 2020

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Demand for HMOs on the rise

Demand for HMOs on the rise as portfolio landlords look to purchase

• 31% of landlords looking to purchase will target HMOs in 2020
• 9% of portfolio landlords – those with four or more properties – plan to add to their portfolio over the next quarter
• Landlord confidence ticks up, although remains historically weak

Landlords are planning to acquire Houses in Multiple Occupation (HMO) more than any other property type over the next 12 months, research from Paragon has found.

Paragon’s Q4 2019 PRS Trends report¹ found that of the landlords planning to purchase property in the next 12 months, nearly a third (31%) plan to purchase HMOs, up from 12% just three months earlier. 

This is the highest level since Q2 2017 and reflects a greater propensity for portfolio landlords to purchase. A quarter of landlords said they plan to acquire flats, with 18% targeting terraced housing. 

The research revealed that 9% of portfolio landlords – those with four or more properties – plan to add to their portfolio over the next quarter, compared to just 1% of non-portfolio landlords. 

HMOs are typically purchased by portfolio landlords as they offer a higher yield but are more complex to manage. Paragon research shows HMOs achieve a yield of 6.5%, compared to an average yield across all property types of 5.6%².

Richard Rowntree, Director of Mortgages at Paragon, said: “The private rented sector needs to grow to meet increasing levels of tenant demand and it’s clear that portfolio landlords will drive that growth. Not only are they looking to build their portfolios, they are also looking at more complex types of property that will deliver higher yields, such as HMOs.”

Overall, landlord confidence generally remained weak during the quarter, although there was a slight uptick in landlords’ confidence compared to Q3 2019. Paragon’s Confidence Index – which is produced by landlords ranking confidence out of 10 – recorded a score of 6.2 during the period, the highest level for a year and up from 5.8 on the previous quarter.

Richard Rowntree added: “Although still fragile, hopefully we are starting to see some green shoots with regards to landlord confidence. Landlords have encountered significant regulatory and fiscal changes in recent years and we hope to now enter a more settled period.”

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Brent HMO licensing: extended 5 yrs

HMO landlord in #Brent? Important information here > https://t.co/EQHurEXeJX

— RLA Landlord News (@RLA_News) October 31, 2019

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Does a HMO Licence stick to a property?

Paul Conway of @HMO_Services is often asked to explain whether an HMO Licence Sticks to a Property. In this latest guest article, he had a look at that, and two more burning questions on co-living properties. 👨‍🏫 #hmo #property #licencing #licensing https://t.co/89Yne0xk4I

— Fixflo (@Fixflo) October 31, 2019

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9 out of 10 shared homes don't have a living room

Nine out of 10 shared houses don’t have a living room. Here’s why we need them https://t.co/0SKIzF0Di6

— Guardian Money (@guardianmoney) September 30, 2019

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HMO landlord hit with £2k fine

Birmingham City Council has taken action against a House in Multiple Occupation (HMO) landlord in the Small Heath area.

The landlord was ordered to pay £2,000 for failure to appropriately fit the property with fire safety measures and had no licence.https://t.co/MiEGqAseK3 pic.twitter.com/Y2azSu0MjI

— ARLA Propertymark (@arla_uk) September 9, 2019

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HMO landlord in first civil penalty case

Council takes action against HMO landlord in first civil penalty case - https://t.co/4X3h1ghIjx #GoogleAlerts

— Property Hawk (@landlordnews) September 3, 2019

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Leeds cuts HMO mortgage rates

Leeds Building Society will cut rates for HMO mortgages https://t.co/iFsd1jAJwK pic.twitter.com/WWKZgdRXpM

— Mortgage Introducer (@MortgageChat) August 8, 2019

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Roof stripped from illegal HMO

Roof stripped from illegal HMO with tenants still inside - https://t.co/gPGDzOmC2X #ukhousing pic.twitter.com/DPX024a3bB

— 24housing Magazine (@24housing) August 4, 2019

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Penalties for HMO non-compliance

As the rules around HMO licensing changed in October 2018, we're running a series of blogs about the changes. This blog looks at the penalties for non-compliance, take a look 👀 https://t.co/R62OUHaItx #HMO #propertylaw #propertymanager #lettingagent #landlord

— Fixflo (@Fixflo) July 25, 2019

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Illegal HMO shed earned landlord £68k a year

Crammed illegal HMO earned landlord some £68,400 a year https://t.co/fWs6Fp1aVf

— Property Hawk (@landlordnews) June 19, 2019

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Saffron launches HMO products

Saffron launches four HMO products https://t.co/4RqCBUoRmq pic.twitter.com/c1eA5oDJvZ

— Mortgage Introducer (@MortgageChat) May 30, 2019

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£16,000 fine for unlicensed HMO

£16000 in fines and costs for unlicensed HMO in poor condition with breaches of HMO management regs - Colchester. https://t.co/AIgeyM2FEx

— Nearly Legal (@nearlylegal) May 15, 2019

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Rent Repayment Order for unlicensed HMO

Rent Repayment Order for unlicensed HMO. £9000 total. https://t.co/n79VVbGqed

— Nearly Legal (@nearlylegal) April 23, 2019

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Letting agency fined £50k over 2 HMOs

Letting agency fined £50,000 over safety failures at two HMOs.#LettingsofLondonLtd #lettingagency #finehttps://t.co/rmewlGe9Ax

— The Negotiator (@TheNeg) April 23, 2019

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Councils fail to crack down on HMOs

Councils face a losing battle as they crack down on rogue agencies https://t.co/5D7Np8tQEz

— Guardian Money (@guardianmoney) April 7, 2019

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Basildon landlord of a HMO fined £4k

A Basildon landlord has been convicted of three offences for failure to comply with fire safety requirements of a house in multiple occupation (HMO) in Oldwyk, Basildon.

Marcus Brade, 47, of Wickhay, Basildon, pleaded guilty to three charges at Basildon Magistrates' Court on Monday 4 March.  

The charges included a breach of an Improvement Notice served by Basildon Council under the Housing Act 2004, which required works to be carried out in respect of fire safety measures. He was also charged with two offences under the HMO Management Regulations 2006 that require relevant fire measures to be in place including interlinked smoke alarms and an adequately protected fire escape route.

The HMO was previously subject to an Emergency Prohibition Order under Mr Brade's management where officers determined serious safety risks to the occupants.

Mr Brade was sentenced to a fine of £2,646, costs of £2,000 and a victim surcharge of £170.

Councillor Don Morris, Chairman of the Housing Committee, commented: 

"All borough residents deserve a home that is safe and we will do all we can to take action　against private landlords who think they can cut corners in terms of fire safety when letting their properties.

"HMO accommodation is regarded as being at a higher risk of fire than single family homes. I would like to thank council officers for their intervention. This prosecution sends a clear message to landlords that we will act to ensure the safety of tenants."
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Rogue landlord jailed for fake HMO documents

Rogue landlord jailed for fake HMO documents https://t.co/2B9Rr4T6j9

— Property Hawk (@landlordnews) February 28, 2019

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