Early Repayment Charge (ERC)

In England a house is usually an HMO when three or more people who form more than one household share a kitchen, bathroom or toilet. A remortgage lender will lend on the licensed occupancy, not the brochure bedroom count.

Shared ownership remortgages follow the housing association’s staircasing and consent rules. That is a different product from an HMO remortgage on a privately let shared house. This page is about refinancing a licensed HMO, not a shared-ownership home.