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Mandatory Licensing
Definition
Required for all large HMOs (5+ occupants), ensuring the property meets safety and management standards set by local authorities.
Related Terms
Related FAQs
A large HMO typically has 7 or more bedrooms or is spread across 3 or more floors, requiring additional licensing.
Was this helpful?Large HMO mortgages usually have higher rates, stricter criteria, and may require larger deposits.
Was this helpful?Most lenders require a minimum 30% deposit for large HMOs, though some may accept 25% for experienced landlords.
Was this helpful?Large HMOs require mandatory licensing from your local council. You'll need to meet additional safety standards, provide floor plans, and pay higher licensing fees.
Was this helpful?Large HMO mortgage rates typically range from 5.5% to 8.5%, higher than standard HMO mortgages due to increased risk and complexity.
Was this helpful?Large HMOs require enhanced fire safety measures, emergency lighting, fire doors, sprinkler systems, and regular safety inspections. Requirements vary by council.
Was this helpful?Apply through your local council with property details, floor plans, safety certificates, and management arrangements. Processing can take 12-16 weeks.
Was this helpful?Criteria include significant landlord experience, strong financial position, property suitability, adequate rental income projections, and compliance with licensing requirements.
Was this helpful?Large HMO mortgage applications typically take 6-12 weeks due to additional complexity, licensing requirements, and more thorough lender assessments.
Was this helpful?You'll need proof of income, bank statements, property details, large HMO license, safety certificates, rental income projections, and a comprehensive business plan.
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