HMO MORTGAGES

Up to 85% LTV

No Minimum Income

Interest Only or Repayment

First Time or Portfolio Landlords

Multi-Let Including Bedsits Accepted

STEP 1

Enquire online

 

STEP 2

Speak to an Advisor

 

STEP 3

Get a Mortgage

 

HMO Mortgages

HMO Mortgages are mortgages for houses with multiple occupants and have become a niche area of mortgage lending. The definition of a HMO is problematic as certain Local Authorities such as Oxford deem a house of multiple occupancy to be three unrelated tenants living in one property whilst other Councils may have definitions of four, five or more.  HMO lender requirements may or may not require the property to be registered and specific lending criteria is essential to fully understand in order to prevent disappointment.

HMO mortgages range from a house of sharing tenants to properties with multiple kitchens, bedsits and several self contained flats under a single legal title.

We appreciate that the structure and complexity of HMO mortgages are generally misunderstood by the majority of lenders or brokers.

Typically, clients we successfully assist tell us of the difficulty they have experienced in trying to arrange a competitive HMO mortgage. Often they express their frustration in finding an appropriate lender or are a little unsure how to start their search.

Usually we find that clients seeking these types of mortgages have more specialised finance needs and we are able to provide personalised advice on the appropriate lenders to meet those requirements. Clients we successfully help in similar situations, typically tell us of their annoyance at the current restrictions on obtaining a mortgage on a HMO. They usually have a healthy deposit for a purchase or significant equity to undertake a re-mortgage. They find it difficult to understand why the vast majority of lenders will not consider their individual circumstances.

They confirm the additional problems they come up against, when they want to rent out the property and may be uncertain where to begin. They generally are looking for appropriate guidance to obtain the available deals in the market. They frequently seek to ensure that they do not fall foul of the lenders conditions or invalidate the property insurance given the property’s HMO status and who may be living at the property.

     “It was quite an easy decision to make….the run of the mill mortgage brokers really were not going to be able to help me on this one. I would recommend Capital Fortune to any one asking and I do so too.” Joe Crosby, Golders Green

Our HMO mortgage service is based not only on knowing UK lender’s criteria but also our ability to access the available private banking and bespoke lending solutions. Such lenders will often take a more holistic approach to the HMO and will look at the mortgage as more than a standard transactional deal.

They may have spoken to a number of brokers without success, before making contact with us.

“They arranged a re-mortgage for us…. which was unusual and certainly must have been difficult. It went through smoothly, more smoothly than any other mortgage I've taken out.” RH, Stanmore

HMO mortgage applications often require a greater degree of negotiation with national lenders, the underwriters, their panel surveyors and property valuers. Clients we successfully help, also appreciate there is a limitation on the number of providers in this specialist market and understand the fact that many do not openly advertise their available products direct to customers.

Having multiple occupants share a property, usually under separate tenancy agreements, may make HMO mortgages assessment complex.

In spite of this, HMOs can be a profitable investment and some lenders offer exceptional deals on HMO mortgages.

Our advisers have the expertise to negotiate with lenders. We take care of the paperwork in the application process and use our experience to present your details on the most favourable light, maximising the chances of success.

“Capital Fortune are a blessing...I feel like I’ve got the best rate on the market and a very personable and friendly service.” Reuben, South London, SE27

As a comprehensive panel of lenders broker in this area, we know our lenders and lending criteria. Importantly, we appreciate the ambiguities and difficulties in this area of UK lending and work to provide an appropriate solution. We regularly assist clients with mainstream and complex finance and we are the UK specialists in agricultural tie mortgages.

Our Advisers will take you through all the options available and all the relevant fee structures. You can then decide whether we are right for you.  You can call us on our national number or a request a call back online, using the general enquiry form or call back request.

We have been voted the Overall Adviser of the Year for the largest UK mortgage and protection network, two years in a row and have recently won a national industry award for Excellence in Treating Customers Fairly. A number of our clients watched us on BBC TV Newsnight and supported our shortlist nomination for Best Broker Prime and Best UK Mortgage Adviser at the prestigious Money Marketing Financial Services Awards and British Mortgage Awards respectively.

“We are now on our second mortgage with Capital Fortune and recommend them to friends and family.” EHB, London

For HMO assistance, speak to one of our Mortgage Advisers and call us today on 020 77 100 400.

STEP 1: Online Enquiry

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