A house in multiple occupation (HMO) mortgage is designed for borrowers that wish to let out the property to at least 3 people who are not from 1 ‘household’ (for example a family) but share facilities like the bathroom and kitchen. It’s sometimes called a ‘house share’.
Many lenders prefer borrowers to have experience as a landlord before they will consider an applicant for an HMO mortgage. There are only a few lenders that accept borrowers without any landlord experience.
Finding the right HMO mortgage can be complex, feel free to call us today on 01869-248339 or email us at firstname.lastname@example.org to receive some expert advice.