The Mortgage Cafe

No Lender Arrangement Fee HMO Mortgages

No Early Repayment Charge (ERC) – Low or No Valuation Fees

Homes of Multiple Occupation - Multi-Let - Share House Let

These are mortgages that provide certain incentives for applicants. Most types of HMO properties are covered by these mortgages, but the best combination of low interest rates and low fees are associated with HMOs with up to 5 letting rooms. Properties will normally have shared kitchen and bathroom facilities. Multiple bathrooms are allowed, but some lenders will not lend for properties with more than 1x kitchen. Some of the most attractive mortgages are for properties with up to 5 letting rooms. However, HMO mortgages with incentives are available up to 85% of property purchase price (or property value for remortgages). Interest only is available and applicants do not need letting experience with some of these lenders

Types of Property

Properties with up to 20x letting rooms are acceptable. Properties arranged in up to 20x flats, studios and or bedsits in one freehold or leasehold title, are also acceptable. Properties above some commercial premises may be acceptable. Tenants can be students, or working professionals.

  • Houses of Multiple Occupation (HMO)
  • Tenants can be students, or working professionals
  • HMO’s arranged as flats in one title
  • Single AST and multiple AST tenancy agreements accepted
  • Property in England, Scotland & Wales and Northern Ireland
  • Properties with or without an 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
  • HMOs with up to 20 letting units accepted
  • Mixed unit accommodation of flats, studios, bedsits not exceeding 20 units within title
  • Properties arranged as flats, studios or bedsits

Situational Profile

For applicants looking to minimise the cost of arranging an HMO mortgage, for purchase or remortgage and capital raising. For applicants who may be looking to sell their property and who do not want to pay an early repayment charge. For applicants who do not want fees added to their mortgage.

  • Products with no lender arrangement fee
  • Products with no early repayment charge (ERC)
  • Products with reduced or no valuation fees

Applicant Profile

Applicants should be owner occupiers and be able to demonstrate good personal income. A clean credit history is required.

  • UK citizen with passport or UK driving licence as ID
  • Evidence of deposit funds ( Bank statement )
  • Proof of income; employed, self employed or pension
  • Clean credit history
  • Some minor and historic adverse credit can be considered
  • Applicants can be employed, self employed, or retired
  • UK Bank account holder
  • Previous letting experience

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