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Mortgages for HMO

Best Mortgage HMO Rates

I Want to Buy I Want to Remortgage

Mortgages for HMO

    • 3.89% Initial
    • 5 year fixed
    • 5.9% APRC
    • Cashback Max £1,250
      Free Legals
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    • 3.92% Initial
    • 5 year fixed
    • 6.7% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
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    • 3.92% Initial
    • 5 year fixed
    • 6.4% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 3.94% Initial
    • 5 year fixed
    • 6.4% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 3.97% Initial
    • 5 year fixed
    • 6.5% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 3.98% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 3.99% Initial
    • 5 year fixed
    • 6.5% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 4.00% Initial
    • 5 year fixed
    • 6.8% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 4.00% Initial
    • 5 year fixed
    • 5.9% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 4.00% Initial
    • 2 year fixed
    • 6.7% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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Representative example based on a fixed rate mortgage

A mortgage of £375,000 payable over 20 years initially on a fixed rate for 5 years at 4.38% and then at the standard variable rate of 7.65% for the remaining 15 years would require 60 monthly payments of £2,351.88 and then 180 monthly payments of £2,899.55.

The total amount payable would be £663,156.80 which includes interest and product fees of £1,124.

The overall cost for comparison is 6.5% APRC representative.

Early repayment charges may apply.

Mortgages for HMO

What is the definition of a house with multiple occupants?

 In mortgages and rental agreements, a sole occupancy residence is defined as housing one household.

 A household is either an individual or a group of people living together from the same family. A house with multiple occupants is one in which unrelated occupants share facilities, such as a bathroom and kitchen.

 Several individuals may live in a house with multiple unrelated occupants. This occurs in most cases in house shares and student housing. 

HMO mortgages

 You can take advantage of several advantages when you buy a house with a friend or group of friends, including sharing costs and benefitting from ownership rather than renting – but you need to know what kind of mortgage you need before making a joint purchase.

 A mortgage with tenancy in common is generally required if you intend to buy a house with multiple unrelated occupants. Mortgage holders with a tenancy in common are not treated as one household, unlike those with a joint tenancy (which is more common for couples purchasing a home together).

 Therefore, they are more frequently used for houses with multiple occupants (HOMs) where the people buying the house are not related—for example, a group of friends buying a house together.

 Unlike joint tenancies, which are the most common mortgage option for couples purchasing a home together, mortgage holders with tenancies in common are not legally counted as a single household. This means that each of you owns a share of the property, and if one of you dies, the remaining mortgage holders are responsible for the outstanding debt.

 If you die, unlike a joint tenancy mortgage, the property will not automatically pass to the other named mortgage holders. Instead, it will be passed on according to the details of your will, so everyone named on the mortgage should have a will in place before getting a mortgage.

 Unlike a joint tenancy, a tenancy in common allows each owner to own a different share of the property rather than an automatic half-and-half division. 

To investigate your HMO mortgage finance options call our broker team or fill in our call back form -  speak to our independent mortgage broker team who will be able to offer impartial advice or you can call us on 0117 403 3464

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