Looking for a HMO mortgage?
At Yomo Finance, we understand the unique challenges and opportunities that come with investing in Houses in Multiple Occupation (HMOs). Our HMO mortgage range is designed to cater to the specific needs of landlords and property investors looking to capitalise on this lucrative market. Contact our team in Aylesford to start your application.
What is a HMO?
A House in Multiple Occupation (HMO) is a property rented out by at least three people who are not from the same household (family) but share facilities like the bathroom and kitchen. HMOs are a popular investment option for landlords as they can generate higher rental yields compared to traditional single-let properties.
Key features of our HMO mortgages
Our HMO Mortgage products are tailored to meet the diverse needs of HMO investors, offering a range of features and benefits:
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Competitive interest rates: We search for competitive interest rates for HMO mortgages..
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Flexible loan-to-value (LTV) ratios: We understand that HMO properties often require higher LTV ratios, and mortgages can accommodate up to 75% LTV, subject to meeting our lending criteria.
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Experienced underwriters: Our underwriters have extensive knowledge and experience in assessing HMO properties, ensuring a smooth and efficient application process.
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Portfolio lending: If you have an existing portfolio of HMO properties, we can consider lending against your entire portfolio, subject to meeting our criteria.
Eligibility and lending criteria
To qualify for a HMO mortgages, you'll need to meet the following criteria:
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Minimum property valuation of £100,000 (£250,000 in London)
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The property must be classified as an HMO by the local authority
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Compliance with all relevant HMO licensing and safety regulations
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Sufficient rental income to meet our affordability assessments
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