What is an HMO?
An HMO (house of multiple occupancies) is a property that is rented out by 3 or more people who do not form a household (i.e. are not a family). Bathroom and kitchen facilities are shared between residents.
A large HMO is one where 5 or more people rent out the property. Large HMOs need to meet certain standards and obligations and require a license from the local council.
Do you lend on HMOs?
Yes! We currently lend against standard HMOs (6 bedrooms or less)
For HMO mortgages, we will lend up to 75% of the property value.