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Mortgage for a HMO?
BulletBob
Posts: 44 Forumite
Is it difficult to get a Mortgage for a HMO?
As I'm thinking of changing products from current BTL Mortgage
Many Thanks
As I'm thinking of changing products from current BTL Mortgage
Many Thanks
0
Comments
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it's not so easy as conventional buy to let but there are a few lenders who will look at them now e.g. mortgages plc, Leeds, Paragon. It depends on the type of property, tenancy arrangments etcI 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
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not sure off the top of my head but I think Paragon are still doing 90%, the others 85% - can confirm on MondayI 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
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I have a licensed HMO mortgaged by mortgage express but paragon will do as well both up to 85% no trouble.I like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)0
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Thanks for the Replies...:beer:
What rental calculations would they need? and any other criteria I would need to meet?
Many Thanks0 -
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Paragon are 125% @ 5% payrateI 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
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