The HMO Mortgage Broker and Rupert Wallace are pleased to announce the release of their HMO Mortgages Guide. The informative guide is titled HMO Mortgages, the Ultimate Guide. Houses in Multiple Occupation (HMO) are considered more profitable than standard Buy-to-Let residential rental property. Still, the Ultimate Guide to HMO mortgages explains what they are and how to finance them correctly are. An HMO or House in Multiple Occupation, as defined from a mortgage perspective, is a property rented out by at least three people who are not from one household (e.g., a family) but share facilities like the bathroom and kitchen. It is sometimes called a house share.
The government defines a household as either a single person or members of the same family who live together, for example, couples who are married or living together, step-parents and step-children, and relatives or half-relatives (siblings, aunts, uncles, grandparents).
Further information is available at https://www.thehmomortgagebroker.co.uk/hmo-mortgages-ultimate-guide/
The are several types of HMO mortgages. The type of mortgage which is selected in a particular instance will depend upon the stage at which the HMO property is at to dictate the type of HMO lending sought. The mortgage types include HMO Development Loans for major build and large construction projects; HMO Refurbishment mortgages for light to massive refurb projects and HMO mortgages and remortgages for existing HMOs and multi-let properties.
Rupert Wallace explained to an interviewer, “The type of borrower who is seeking HMO funding will dictate the lender that is approached. Not all lenders cater to all scenarios, but typically some lenders specialise in HMO lending for each situation. The HMO mortgage borrower types include Individuals, First Time Landlords, HMO Mortgages with no minimum income requirements, and HMO Mortgages for limited companies (LTD) and Special Purpose Vehicles (SPV) and HMO Mortgages for Limited Liability Partnerships.”
“There is significant additional information available by checking out the Guide,” he continued. “The purpose is to help investors and buyers to make appropriate decisions.”
Location information is available at The HMO Mortgage Broker
Media Contact
Company Name: The HMO Mortgage Broker
Contact Person: Rupert Wallace
Email: Send Email
Phone: 0203 970 4113
Address:199 Stratosphere Tower
State: London E15 1DU
Country: United Kingdom
Website: https://www.thehmomortgagebroker.co.uk/
