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  • HMO & Multi-Lets

    Licensed HMO mortgage providers?

    Hi again. It's all questions today Smile

    Can anyone recommend or suggest any mortgage providers that will finance on Licensed HMOs and to a 'professional landlord' IE with no other income?

    From research so far it would seem that options available are down to two lenders only; TMW and Kent Reliance. All others seem to permit unlicensed properties only. Even BM Solutions won't look at Licensed properties apparently.

    If anyone here in a similar situation uses anyone else, I'd love to hear from you.

    Many thanks.

    David1
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    You are in specialist territory now. I have arranged licensed HMO mortgages also with the following:

    Paragon,Interbay,Shawbrook,Lloyds,Keystone,Aldermore

    Happy to give you my thoughts on who is best for your circumstances as all the above are very different in what they like .
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    Regards Simon Searchlight Finance

    Fulfil Your Property Ambitions

    01565 654005

    Searchlight Finance Ltd is authorised and regulated by the Financial Conduct Authority reference 743220.

    HMO Finance I Complex BTL I Bridging Finance I Development Finance

    Buy to Let I Portfolio Finance I Commercial Mortgages


    Thanks Simon. I will give you a call later today to discuss.

    I am intrigued when you say that this is 'specialised' territory. Are Licensed HMO & 'professional' landlords really so much the minority?

    That got me wondering... what is the percentage make-up of the PRS? What proportion of the industry as whole:

    - let to supplement other income?
    - have single lets / HMOs / both?
    - let to working professionals / students / DSS?
    - own 1 -2 BTLs / 3-5 BTLs / 5-9 BTLs / >10BTLs?
    - mortgage as interest only / repayment / own outright?

    I am probably amongst the majority with interest only, mixed let types & <5 properties but I wonder how many have no other form of income?

    Is there any up-to-date data available on this?

    Just wondering Undecided
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    Intrigued by the professional landlord tag. I would like to retire in the next year or two to devote all my time to property- currently BTLs but would like to also try small scale development / property trading. Who are the lenders who are happy to deal with lucky people who don't have a 9-5 and what do these lenders look for?
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    Most of my mortgages are with paragon and I no a lot of other landlords are two. They seem ok with the HMO aspect on properties
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    Stephen Coles Dip RLPM

    Coles Property Management

    32 Lune Grove

    Blackpool

    FY1 5LE

    01253 291816

    07967 561210