HMO Mortgages are available with just 15% deposit
HMO Mortgages are available up to 85% LTV for Purchase or Remortgage. That's just a deposit of 15% of the property value. 85% LTV HMO Buy-to-Let mortgages are the highest LTV you can get as a property investor. Landlords looking to leverage prefer an 85% HMO Mortgage.
Rate
|
Fees
|
|
---|---|---|
6.59%
6 Year Fixed
TBC
TBC
Fixed
at
6.59%
|
|
|
6.69%
3 Year Fixed
TBC
TBC
Fixed
at
6.69%
|
|
The mortgage products shown are for illustrative purposes only and were generated 2 minutes ago. Always consult an independent financial advisor before proceeding with any mortgage. The figures are based on a £117648 property value, a £100000 loan amount and £17648 deposit. A Initial Fixed Rate on a interestOnly loan, and a 25-year mortgage term.
Rate
|
Fees
|
|
---|---|---|
6.59%
6 Year Fixed
TBC
TBC
Fixed
at
6.59%
|
|
|
6.69%
3 Year Fixed
TBC
TBC
Fixed
at
6.69%
|
|
The mortgage products shown are for illustrative purposes only and were generated 2 minutes ago. Always consult an independent financial advisor before proceeding with any mortgage. The figures are based on a £117648 property value, a £100000 loan amount and £17648 deposit. A Initial Fixed Rate on a interestOnly loan, and a 25-year mortgage term.
Loan to Value (LTV) is the mortgage amount percentage of the total value or purchase price. You can borrow up to 85% of the value of an HMO Property. As an example on a property worth £100,000. With an 85% LTV HMO Mortgage you can borrow up to £85,000. That means just a deposit or equity of £15,000. Mortgage Lenders consider 85% LTV as high risk giving us few options. The higher risk and fewer options are reflected in the mortgage rates and fees charged. Whilst 85% LTV HMO Mortgages are available. The maximum loan is still constrained by affordability, mainly the rent achievable.
HMO mortgages at 85 LTV are the highest property investors can obtain. Higher loan to value is not available for Buy-to-Let investors. On purchases, you can buy a property with very little deposit. Helping you to expand your portfolio. On remortgages, you can raise capital from your property. Enabling you to use funds elsewhere such as a renovation or expanding your portfolio.
The affordability of a Buy-to-Let Mortgage is based on the rent that is achievable. It can be difficult for landlords to reach a rental stress test of 85%. Completing the mortgage on a Five Year Fix and/or Limited Company may open up more options. Our mortgage advisers will be able to guide you in this. For illustrative purposes only. On a mortgage of £170,000 with the Kensington Product, you would require £974 rent and £1090 from KRBS.
The products available are for Personal Name or in a Limited Company Buy-to-Let if purchasing in a Special Purpose Vehicle (SPV). Trading Companies differ.
HMO Mortgages are not regulated by the Financial Conduct Authority (FCA). These are classed as commercial mortgages.
We are your online mortgage broker, offering you the convenience of applying for a mortgage online. However, we understand that sometimes you may prefer to speak with a human - phone, email or in person.
31 Bradford Chamber Business Park,
New Lane, Bradford, BD4 8BX
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We are authorised and regulated by the Financial Conduct Authority (No. 919921). The FCA does not regulate most Buy to Let mortgages.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Cyborg Finance Limited is registered in England and Wales (No. 12131863) at Bradford Chamber, New Lane, Bradford, BD4 8BX