Frequently Asked Questions

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FAQs

An HMO (House of Multiple Occupancy as defined by the Housing Act 2004) is a building (or part of a building) in which households share amenities like kitchen or bathroom facilities and where the living accommodation is occupied by persons who do not form a single household.
An HMO mortgage is a loan secured against a property deemed to be a House in Multiple Occupation.
If you own or are looking to buy a property that is (or will be) rented out to a group people who share amenities, such as a kitchen of bathroom, and where the living space is occupied by persons who do not form a single household(a single family), then Yes you will need an HMO mortgage. To check to see if you need an HMO mortgage please call us on 0203 970 4113.
If you do this, you will likely be breaching your mortgage lenders terms & conditions and so the lender can recall the loan with no notice and put you in a very difficult position.
Due to our special relationships with HMO mortgage lenders specifically. We can offer an agreement in principle in as little as 2 hours.
The process can be fast but normally is dependent on the lender that is chosen. Normally we allow for 4 to 6 weeks from application to completion. If a customer requires an even faster service then we can prioritise accordingly.
No. theHMOMortgageBroker.co.uk charges ZERO upfront fees, however, there may be a valuation and some legal costs to pay to the lender before completion.
The simple answer is yes. We have access to many HMO lenders who have specific products or mortgages for Limited Companies (Ltd Co) or SPVs. Just check our HMO Mortgage Rates table for specific Ltd Co products or give us a call to find out more on 0203 970 4113.
Again the simple answer is yes. We have access to many HMO lenders who have specific products or mortgages for Limited Liability Partnerships. Just check our HMO Mortgage Rates table for specific LLP products or give us a call to find out more on 0203 970 4113.
Yes. HMO Mortgages are now very common and the process of obtaining one is just as easy as obtaining a normal single let BTL mortgage.
HMO rates are normally a touch more expensive than BTL mortgage, but still very competitive. Check out our latest HMO Mortgages Rates for info.
Yes. HMO mortgages for people with adverse credit, though slightly more difficult, are absolutely possible. theHMOMortgageBroker.co.uk has access to specialist lenders who deal specifically with this issue.
YES. There are options for overseas applicants. The lenders we have on our panel are happy to consider overseas HMO mortgage applicants, subject to a few additional criteria.
No. Whilst it is preferable, it is not necessary to be a homeowner in order to gain an HMO mortgage.
We have placed HMO mortgages from 3 beds up to 300 bedroomed HMO properties.
There are limited options for overseas applicants, however, there are lenders available who will take consider it.
If you are a homeowner, there will be a greater choice of lender, however, there are HMO lenders that will allow first-time buyers. If this is the case, the criteria can be stricter and the interest rate could be higher or LTV (Loan to Value) restricted.

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