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Expats Mortgages for Investing in Houses of Multiple Occupation (HMO)

Expats Mortgages for Investing in Houses

UK citizens living and working abroad who want to take advantage of investing in the UK property market to provide a tangible asset. Historically, UK property has provided good growth and in recent years property has proved to be a favoured investment for expats.

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Situational Profile

UK citizens living and working abroad who want to take advantage of investing in the UK property market to provide a tangible asset. Historically, UK property has provided good growth and in recent years property has proved to be a favoured investment for expats.

  • British expatriate
  • Investing in UK property market
  • For income and capital growth
  • To establish a strong foothold in UK property
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Applicant Profile

To be eligible for the best lending terms, applicants should be in good employment, or self-employment/limited company, with a good level of provable income. Ideally, applicants should own existing property in the UK and have some experience of letting property in the UK. A ‘non-status’ mortgage is available for those applicants whose circumstances fall outside of this criteria. A UK bank account will be required.

  • UK Passport Holder or UK Driving License as proof of ID
  • Evidence of deposit funds ( Bank account statement )
  • Clean credit history
  • Applicants can be Employed, Self Employed, Retired
  • UK Bank account holder
  • Current BTL or HMO letting experience

Types of Property

Single residential Buy-to-Let (BTL) properties, or Houses of Multiple Occupation (HMO) are both acceptable. Commercial properties can also be considered with the appropriate level of applicant experience.

  • Single Residential Buy To Let Houses
  • Houses of Multiple Occupation (HMO)
  • Tenants can be students, or working professionals
  • HMO’s arranged as flats in one title ( max 4 flats)
  • Single AST and Multiple AST tenancy agreements accepted
  • Property in England, Scotland and Wales
  • Properties with or without a HMO Licence
  • Accommodation above commercial premises considered
  • En-suite facilities in rooms are accepted
  • Cooking facilities in rooms accepted
  • Shared kitchen and bathroom facilities accepted
  • HMO’s with up to 20 letting units accepted
  • Mixed unit accommodation of flats, studios, bedsits not exceeding 20 units within title
  • Commercial and Semi-Commercial properties considered

General Lending Criteria

Mortgages are available for purchase, or remortgage. Applicants can borrow up to 75% of purchase price, or property value, and this can be on an interest only basis, or a capital and interest repayment basis. Full proof of an applicant’s employment and income will be required, together with evidence of deposit funds. Evidence of existing UK property will also be required. No proof of income is required for the ‘non-status’ mortgage option (see HMO-10).

  • Mortgage terms up to 30 Years
  • Purchases or Remortgage
  • Interest only Or Capital + Interest Repayment
  • Full proof of applicants income required
  • Evidence of deposit funds required
  • Evidence of existing UK property
  • Maximum LTV (Remortgage) / 75% 75% 75%
  • Maximum LTV (Purchase) / 75% 75% 75%
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HMO-3

HMO’s with most accommodation mixes, including studios/bedsits/flats/rooms let for all types of tenant

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HMO-8

HMO’s with most accommodation types, including studios/bedsits/flats/rooms.

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HMO-10

This lender will allow all residential HMO properties