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HMO Mortgage
ashland_83
Posts: 17 Forumite
hi everyone,
I'm looking to buy a 9 bedroom HMO student house. I have around 170K in cash However I will need around 230K mortgage to be able to do the purchase.
I already called Leeds and Natwest (Had agreement from both for normal Buy to let) and they said that they don't do mortgages for HMOs.
Can anyone help me who does HMO mortgages? which banks, ...?
any help will be much appreciated.
I'm looking to buy a 9 bedroom HMO student house. I have around 170K in cash However I will need around 230K mortgage to be able to do the purchase.
I already called Leeds and Natwest (Had agreement from both for normal Buy to let) and they said that they don't do mortgages for HMOs.
Can anyone help me who does HMO mortgages? which banks, ...?
any help will be much appreciated.
0
Comments
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You would be better speaking to a broker.
Do you have any other property? Any experience of HMO?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I hope you have VERY DEEP pockets and a huge amount of knowledge about the Local student market?
Have you checked that the Local University is not already spending Millions on new Halls of Residence ? or Big guys like Knight Knox International are not building a 400 bedroom tower block near you!
Already a HMO landlord and Article 4 in your area? Know all about Fire alarm system ( control panels ), heat alarms, etc
Does the property pass all the rules needed?0 -
You need an experienced broker for this one.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Hi, I am also in the need of your you guy's expert advice on student lets and returns of 8.5% from Knox , what do you think ? Thanks in advance.0
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