HMO Mortgages for First Time Landlords
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HMO Mortgages for First-Time Landlords, whilst more difficult to find are out there and available.
If you wish to apply for an HMO mortgage and you’re are a first-time landlord, the choice of HMO lenders is more limited. That doesn’t, however, mean to say that the interest rate will be significantly higher like a borrower might expect.
Although an HMO property may be a higher yielding investment than a standard buy-to-let, there is more work involved in managing the HMO property, and some lenders are cautious as a result.
Top 10 Best HMO Mortgages For First Time Landlords
| Product | Type | Rate | LTV |
|---|---|---|---|
| 2 Years | fixed | 3.20% | 75% |
| 2 Years | fixed | 3.20% | 75% |
| 2 Years | fixed | 3.20% | 75% |
| 5 Years | fixed | 3.50% | 75% |
| 5 Years | fixed | 3.50% | 75% |
| 5 Years | fixed | 3.50% | 75% |
| 5 Years | fixed | 3.50% | 75% |
| 2 Years | fixed | 3.60% | 75% |
| 2 Years | fixed | 3.60% | 75% |
|
Product Code:
2BM027
Reversionary Rate:
5.60%
Loan Type:
Purchase
Arrangement Fee:
1%
Early Repayment Change:
3% for 2 years
Application Type:
Individual
1st Time Landlords:
Yes
Minimum Income:
£25,000
Minimum Loan:
£30,000
Maximum Loan:
£750,000
Maximum Bedrooms:
N/A
Features:
|
||||
|
Product Code:
2BM027
Reversionary Rate:
5.60%
Loan Type:
ReMortgage
Arrangement Fee:
1%
Early Repayment Change:
3% for 2 years
Application Type:
Individual
1st Time Landlords:
Yes
Minimum Income:
£25,000
Minimum Loan:
£30,000
Maximum Loan:
£750,000
Maximum Bedrooms:
N/A
Features:
|
||||
|
Product Code:
2BM027
Reversionary Rate:
5.60%
Loan Type:
Purchase
Arrangement Fee:
1%
Early Repayment Change:
3% for 2 years
Application Type:
Ltd
1st Time Landlords:
Yes
Minimum Income:
£25,000
Minimum Loan:
£30,000
Maximum Loan:
£750,000
Maximum Bedrooms:
N/A
Features:
|
||||
|
Product Code:
2BM027
Reversionary Rate:
5.60%
Loan Type:
ReMortgage
Arrangement Fee:
1%
Early Repayment Change:
3% for 2 years
Application Type:
Ltd
1st Time Landlords:
Yes
Minimum Income:
£25,000
Minimum Loan:
£30,000
Maximum Loan:
£750,000
Maximum Bedrooms:
N/A
Features:
|
||||
|
Product Code:
2BM070
Reversionary Rate:
4.85%
Loan Type:
Purchase
Arrangement Fee:
2%
Early Repayment Change:
5% for years 1 and 2
4% for years 3 and 4 3% for year 5
Application Type:
Individual
1st Time Landlords:
Yes
Minimum Income:
£25,000
Minimum Loan:
£30,000
Maximum Loan:
£750,000
Maximum Bedrooms:
N/A
Features:
|
||||
|
Product Code:
2BM070
Reversionary Rate:
4.85%
Loan Type:
ReMortgage
Arrangement Fee:
2%
Early Repayment Change:
5% for years 1 and 2
4% for years 3 and 4 3% for year 5
Application Type:
Individual
1st Time Landlords:
Yes
Minimum Income:
£25,000
Minimum Loan:
£30,000
Maximum Loan:
£750,000
Maximum Bedrooms:
N/A
Features:
|
||||
|
Product Code:
2BM070
Reversionary Rate:
4.85%
Loan Type:
Purchase
Arrangement Fee:
2%
Early Repayment Change:
5% for years 1 and 2
4% for years 3 and 4 3% for year 5
Application Type:
Ltd
1st Time Landlords:
Yes
Minimum Income:
£25,000
Minimum Loan:
£30,000
Maximum Loan:
£750,000
Maximum Bedrooms:
N/A
Features:
|
||||
|
Product Code:
2BM070
Reversionary Rate:
4.85%
Loan Type:
ReMortgage
Arrangement Fee:
2%
Early Repayment Change:
5% for years 1 and 2
4% for years 3 and 4 3% for year 5
Application Type:
Ltd
1st Time Landlords:
Yes
Minimum Income:
£25,000
Minimum Loan:
£30,000
Maximum Loan:
£750,000
Maximum Bedrooms:
N/A
Features:
|
||||
|
Product Code:
2BM046
Reversionary Rate:
5.60%
Loan Type:
Purchase
Arrangement Fee:
0%
Early Repayment Change:
3% for 2 years
Application Type:
Individual
1st Time Landlords:
Yes
Minimum Income:
£25,000
Minimum Loan:
£30,000
Maximum Loan:
£750,000
Maximum Bedrooms:
N/A
Features:
N/A
|
||||
|
Product Code:
2BM046
Reversionary Rate:
5.60%
Loan Type:
ReMortgage
Arrangement Fee:
0%
Early Repayment Change:
3% for 2 years
Application Type:
Individual
1st Time Landlords:
Yes
Minimum Income:
£25,000
Minimum Loan:
£30,000
Maximum Loan:
£750,000
Maximum Bedrooms:
N/A
Features:
|
or speak to a specialist HMOMany lenders insist on some form of letting experience before they will lend to somebody buying an HMO.
But, there are some excellent HMO lenders who service first time HMO landlords very well.
Find out which HMO Mortgage Lenders are happy to provide HMO Mortgages to First-Time Landlords.
On the other hand, you can find out more about HMO Mortgage Lending. It’s never been easier than with our recent publication; THE ULTIMATE GUIDE TO HMO MORTGAGES
Alternatively, call one of the team on 0203 970 4113 for more specific advice, or to get a Fast & Free QUOTE for an HMO Mortgage for a First Time Landlord.
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