Buying HMO for residential use

KFTB

Hello

I'm just wondering if anyone has any experience buying houses that are currently used as HMOs, to be used as residential.

We're looking to buy a house that is currently a HMO but the tenants have been given notice to be out by the end of July. We just want a buy it as a residential house. There's nothing particularly HMO about it, it's just a standard Victorian terrace, but they've got bedrooms in the living room and dining room. 

Would there be any impacts on mortgages? We're looking at apply through Santander

Thanks!

amnblog

Looks on rooms? This is what screams HMO to the valuer and lets Santander work out you are a fibber.

diystarter7

The only "impact" on mortgages I can see is that they get enough from you just in case you default.

A licenced HMO will have several smoke alarms, fire alarm, fire blankets etc and the com bathroom and the kitchen is often well used. and clutter and beds all over the place

There is also a risk that the T's may not leave on time.

NB: Check with the council as there may be housing shortages see what they say. However, if it was to be sold as an HMO and and new owner would need a new licence but if I was you I'd check with the council about what you need to do and costs etc.

KFTB

amnblog said:

Looks on rooms? This is what screams HMO to the valuer and lets Santander work out you are a fibber.

What do you mean by fibber? I actually just want to live in the house. I don't intend to rent it out. 

user1977

I doubt it will be an issue, unless it's got more in the way of physical alterations e.g. more than one kitchen.

ACG

There are a few things that could prevent you get a residential mortgage on the property:
- Locks on doors.
- More than one kitchen. 
- A surveyors take on the property. 

It can be done, but it may or may not be straightforward.