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janet-t

small HMO in Nottingham/

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Hi, Everyone,

I am looking to buy the 3 or 4 bed house in Nottingham NG7 (Artictle 4 area) and rent out to students for higher yield  I am starting some viewings.

My question is : Do I need to get planning permission for C3 to C4 usage first ? Or I just apply the additional licence from Council . Anyone knows how to proceed.

According to Nottingham City Council website, 3 to 5 unrelated people's tenancy require to apply the additional licence. But I really do not know if I need to have planning permission first . How to proceed

If anyone has pointers or comment, please kindly advise. Thank you so much .

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Hi Janet

If it's in an article 4 area and it's not an existing HMO then you must apply for planning permission. Licensing is different and nothing to do with planning. The point of Article 4 is to control the number of HMOs in an area so your chances of getting it are minimal. Talk to the local panning authority first for a steer.


Regards Simon

Searchlight Finance Ltd

T:01565 654005

 

Landlord and specialist property finance advisor only dealing with investors, landlords and developers throughout the UK and beyond.

Buy to Let - Commercial Finance - Bridging Loans - Development Finance - HMO Finance - Refurbishment Loans - Multi Let - Limited Company - Student Lets - Portfolio Finance

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@simon allen Hi Simon hope you're well. On a separate topic but related, would you mind confirming something, is it true if you're not already a HMO owner lenders will require a 50% deposit for the first property?

Thanks so much!

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15 hours ago, paulh94 said:

@simon allen Hi Simon hope you're well. On a separate topic but related, would you mind confirming something, is it true if you're not already a HMO owner lenders will require a 50% deposit for the first property?

Thanks so much!

It's not true, as long as you own your own residence the deposit is usually 25% but at the moment it's 30%. That's for an HMO with seperate tenancies up to 6 people


Regards Simon

Searchlight Finance Ltd

T:01565 654005

 

Landlord and specialist property finance advisor only dealing with investors, landlords and developers throughout the UK and beyond.

Buy to Let - Commercial Finance - Bridging Loans - Development Finance - HMO Finance - Refurbishment Loans - Multi Let - Limited Company - Student Lets - Portfolio Finance

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6 hours ago, simon allen said:

It's not true, as long as you own your own residence the deposit is usually 25% but at the moment it's 30%. That's for an HMO with seperate tenancies up to 6 people

@simon allen Thanks for confirming. I'd love to chat to you further as I think you could help me with my plans, do you have an email address you could send to me on pm? Thanks

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On 5/15/2020 at 5:11 PM, paulh94 said:

@simon allen Thanks for confirming. I'd love to chat to you further as I think you could help me with my plans, do you have an email address you could send to me on pm? Thanks

@paulh94Thanks Paul It's simon@searchlightfinance.co.uk 


Regards Simon

Searchlight Finance Ltd

T:01565 654005

 

Landlord and specialist property finance advisor only dealing with investors, landlords and developers throughout the UK and beyond.

Buy to Let - Commercial Finance - Bridging Loans - Development Finance - HMO Finance - Refurbishment Loans - Multi Let - Limited Company - Student Lets - Portfolio Finance

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