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Found 5 results

  1. What advice would you give for someone looking to get into HMO's to begin with? Lucky enough to be at a young age (17) and would greatly appreciate any advice that can be given from anyone who has had or currently owns HMO's and what would they do differently if they were to start again/ what mistakes to avoid if possible. Thanks
  2. Hi there, I need some advice please. I’ve been rejected lending on a non licensed HMO student property on the basis they are all on separate AST’s. My broker initially checked and the mortgage company said it was ok for individual contracts but after the valuation they said they wouldn’t lend on that basis. Surely it’s not normal for students to all be on one contract? Can anyone shed some light as to why the mortgage company changed their mind? many thanks.
  3. Hi there, I need some advice please. I’ve been rejected lending on a non licensed HMO student property on the basis they are all on separate AST’s. My broker initially checked and the mortgage company said it was ok for individual contracts but after the valuation they said they wouldn’t lend on that basis. Surely it’s not normal for students to all be on one contract? Can anyone shed some light as to why the mortgage company changed their mind? many thanks.
  4. Good afternoon, I was wondering if I can borrow your brains, as everyone seems rather friendly and helpful here. I love the property hub podcasts so I thought I would have a go and join the forum too! So the situation is like this: I have a big property on a standard BTL at 2 years fixed, interest only. It is let out on AST 6 months fixed, then periodic. I was listening to different podcasts and I have decided to turn it into an HMO. I am fully aware what it entails, and I will be applying for the permission now, as I am in Article 4. I can make it a 6 bed high end HMO, but I
  5. Can anyone help? My husband and I returned to the UK last year after spending 12 years in Australia. We have funds in the bank but a limited credit history as we haven’t been in the Country. We do not own a home here, we rent. The best a broker could offer for starting our property portfolio was a loan at 4.3% for a HMO but the minimum loan amount was £100k with 65% LTV – we were not looking at spending anywhere near this amount; or Single let BTL at 75% LTV at 8.15%. I wasn’t overly impressed but are these figures the best I can expect? If someone else (family member) becomes mortga
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