Conversion

Finance for a freehold block containing multiple self-contained units or bedsits let as HMO accommodation — one title, multiple income streams. Underwriting aggregates rents but considers void correlation and management complexity.

Valuation and legal work are more complex; lenders assess aggregate income, common areas, and compliance across units. Rates can be similar to HMO products but the lender panel is smaller. Legal structure (single freehold vs leasehold splits) matters.