Solutions for HMO lending

Solutions for HMO lending

There has been a massive spike in HMO property investors over the last 12 months – the returns can be outstanding.

Outside of the South East there’s a real boom in houses being converted to HMO’s but a lot of the investors are inexperienced and live far away from their investment.

If it is challenging to place and package HMO cases please give us a call on 01902 585052.

Here is a flavour of the options we have available:

Purchase / Remortgage

• Up to 85% LTV
• Adverse credit considered
• Limited company HMO
• No minimum Income
• Interest Only
• No stress test on 5 Years fixed products
• Rental coverage 125% – other income considered
• Projected rent used where no tenants in place
• Purchases from 2.69%
• Remortgages from 2.99%
• Free valuation and legal service on remortgages

Second charge

• Rates from 6.29%
• Up to 75% LTV
• Adverse credit considered
• Rental coverage 115% – other income considered
• Projected rent used where no tenants in place

Short term / Refurbishments

• Rates from 0.44%
• Up to 75% LTV up to 100% with additional security
• Light, Moderate and Heavy refurbishment – Rates from 0.59%
• Adverse credit considered
• Limited company HMO
• 2nd charge options available
• No minimum income
• No minimum property value
• England, Scotland and Wales
• Roll up and serviced interest
• No exit fees
• 0% Product fee

Don’t forget we have some lenders with some surprisingly niche products – think outside the box cases

• Rental income 100% – 115% affordability
• Unlimited adverse
• Business purposes
• 1st, 2nd and 3rd charges
• No limit on rooms
• Any type of property construction

Please call us and we’ll get back to you with some options quickly and can take over the packaging hassle so you can focus on something else.

www.promisemoney.co.uk

01902 585052