Jump to content

Search the Community

Showing results for tags 'hmo mortgage'.



More search options

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums

  • Property Hub
    • Announcements
    • Property news
    • Introduce yourself
    • General property discussion
    • I need advice!
    • Progress journals
    • Property Podcast discussion
    • Property Hub University
    • Off-topic chit-chat
  • The Property Hub Summit

Calendars

There are no results to display.


Find results in...

Find results that contain...


Date Created

  • Start

    End


Last Updated

  • Start

    End


Filter by number of...

Joined

  • Start

    End


Group


Website URL


Skype


Location


Areas I invest in


About me


Property investment interests


My skills


My goals


Interests outside property

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 am confused as to what I actually can do once I have the necessary permissions? I have architect and planning officers ready, so assuming I get my HMO permissions within 2 months, that is assuming on 01/12/16. I would like to evict the tenants and start converting it to an HMO. By then I will be roughly 1 year into my BTL, so 1 year to go on the fixed term. The million dollar question is this: which tools I can use to start using it as an HMO? Do I just let it for 1.5 years and then finish HMO refurb by the time 2 years are running up and then I will have HMO with all the permissions ready to be let out and refinance it then? Can I do it before? The option not to tell anyone and just do it quietly is tempting, but won't sadly work. I am a house owner. Any comments will be of great help! Thanks guys.
  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 mortgage host I guess we would not be seen as having HMO experience down the track as the mortgage holder would gain that?? Would it be worth buying in cash and then refinancing when we have a credit history here or is that just too long a process? Very interested in other people’s thoughts / comments.
×