The Issue – A first-time landlord with a 7 bed HMO was told by a specialist HMO broker they were not mortgageable due to lack of experience. They had a property worth £400,000 wihich they wanted to remortgage at 75% LTV.
The Solution – We have access to a lender who will do HMO mortgages up to 8 beds for a new landlord at competitive rates. The previous broker thought their maximum was 6, so through our knowledge, we have a happy landlord who has now moved onto her next property.
Not rocket science but by understanding the market we know where to go and who to avoid.BTL, lender, mortgage, portfolio landlords