HMO Mortgage Rates & Advice

The advantages of HMO buy to let mortgages for landlords

Monday 19 December, 2022

Thomas Oliver mortgage brokers can check HMO mortgage lenders to find you the best HMO mortgage rate available. Getting house in multiple occupation mortgage advice from Thomas Oliver gives you access to a wide range of specialist HMO mortgage lenders allowing you to obtain the best available mortgage rates.

Call your local HMO mortgage expert for HMO mortgage advice on 01707 872000

John Pringle, mortgage broker in Tottenham, Enfield and North London said: 

‘The HMO Mortgage market has been volatile in the last few months. We are receiving lots of enquiries about HMO mortgages from clients living in North London, central London, Hertfordshire, Essex, and Bedfordshire. 

The HMO Mortgage market has seen significant turbulence due to recent rate rises and some smaller landlords have been unable to afford their HMO mortgage payments. We recommend that if you are looking for HMO mortgage advice, whether you want to set up a new HMO mortgage or require advice on your existing HMO mortgage deal, call your local Thomas Oliver mortgage broker on 01707 872000.

We are a specialist HMO mortgage broker based in and around London, and we are always available to discuss your HMO mortgage options. It is always worth having a conversation with our mortgage brokers about HMO mortgages as we know the HMO mortgage market and understand all the HMO mortgage products that the HMO mortgage lenders are currently offering. Obviously with the recent rise in interest rates the HMO market is changing rapidly and HMO mortgage deals that are available today could be pulled at any time. 

As with most mortgage products, if you can agree your HMO mortgage deal in advance most of the mortgage lenders will honour it for six months which gives you time to purchase a property or get new tenants for your property.’

How does an HMO buy to let mortgage work?

An HMO is a house in multiple occupation which simply means that at least three people live in the property and share common areas, for example the kitchen and bathrooms. We may refer to it as a ‘house share’ or ‘flat share,’ a student house is a good example. The occupants may not know each other, or they are unrelated, but the rental for the whole property is divided up and the tenants each pay a share of the rental to rent their own room in the house of flat.

Why are HMO’s popular with landlords?

As it is so difficult for first time buyers to purchase their own home, save a deposit and pay the high mortgage costs more young people than ever are renting. Many young professionals rent a room in a shared house as the rent for their room works out much cheaper than if they rented a property on their own. As the demand for shared property increases so does the demand for HMO mortgages.

Houses in Multiple Occupation – Renting out your property – Government Regulations

In Summary…

HMO buy to let mortgages are specialist so it’s important to take HMO mortgage advice. Call the Thomas Oliver mortgage broking team on 01707 872000.

Our mortgage consultants are experienced HMO mortgage brokers we can review the HMO mortgage lenders, so you find the most suitable HMO mortgage for your circumstances. 

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments. 

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