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john21a

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  1. Quick question to see if anyone can help. I am on the electoral roll at my parent's home and everything e.g bank accounts etc is registered there as I would consider it my permanent address - but technically I am currently renting at a different address. Would it be better for a mortgage application to use my parent's address as my address for the last 3 years? It's just that if I change my address information for electoral roll etc I think it may take some time to appear on credit reports and I'm concerned it would affect my application.
  2. Thanks very much guys! Mortgage_tom would you recommend any Brokers/lenders in particular? Also one question re licensable vs unlicensable HMOs. I was on the phone to a lender and they said maximum LTV for me as a FTL for a licensable HMO would be 65%, but for a ‘standard’ non licensable HMO BTL it would be 75%. Are there clear rules about what defines a licensable HMO? As I read somewhere that if the property is less than three storeys it usually does not need the same HMO licence. Basically I’d like some advice on whether I should abandon looking at certain HMOs hased on number of
  3. Quick question re licensable vs unlicensable HMOs. I was on the phone to a lender and they said maximum LTV for me as a FTL for a licensable HMO would be 65%, but for a ‘standard’ non licensable HMO BTL it would be 75%. Are there clear rules about what defines a licensable HMO? As I read somewhere that if the property is less than three storeys it usually does not need the same HMO licence. Basically I’d like some advice on whether I should abandon looking at certain HMOs hased on number of bedrooms/number of storeys? How do I know for sure that a property is not a ‘licensable’ HMO without hav
  4. Thanks for the advice. Just re the parent option - is there much risk involved for a joint applicant on a BTL mortgage? I don't want to put my parents under unnecessary financial strain - is it as simple as just having an additional name on the mortgage to provide reassurance to the lender that we have some experience on hand? I believe my parents have been landlords before and are secure financially. Thanks again
  5. Also, would it make a difference if one of my parents agreed to be a joint applicant for the HMO mortgage?
  6. Hi! Just thought I'd post here to see if anyone had any advice for me. I have managed to save roughly £25k and I'm looking at buying a house to rent out as a source of passive income. My absolute ideal buy would be a multiple bedroom house (3-6 bedrooms), and I would like to let each room out individually. This may seem a bit ambitious, but there are houses available in certain locations for below £100k. The issue is that I am a first-time buyer...so this seems to be a problem for BTL mortgages. I am aware that there are quite a few lenders who are okay with first-time BTL landlords, but they
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