HMO Mortgages in Brighton
Brighton’s active lettings market makes Houses in Multiple Occupation (HMOs) a popular investment choice for landlords. Converting a building into an HMO or buying one already converted, finance can be more complex than with a conventional buy-to-let. Some lenders require more stringent criteria, and interest rates can vary. That is where Everest Mortgages Brighton can help.
Years Experience
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Mortgages Arranged
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What is an HMO?
An HMO is a property rented out by a minimum of three un-housed tenants with communal facilities such as bathrooms or kitchens. They are particularly in demand in Brighton, because of its student population, young professionals, and rising rental demand. Although HMOs can generate higher rental yields, lenders will consider them to be riskier.
How HMO mortgages differ
- HMO mortgages typically demand:
- Larger sums than typical buy-to-let mortgages.
- A good reputation as a landlord (but some will take newbies).
Evidence that the property is in line with licensing and safety standards.
Because of these factors, it’s important to employ a broker who knows what lenders are open to HMO finance.
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How Everest Mortgages assists landlords
Here at Everest Mortgages Brighton:
- We search the whole market for competitive levels of HMO mortgages.
- Deal with lenders who have experience of landlord and portfolio finance.
- Help you through regulation requirements and property criteria.
- Handle your application from start to finish to save you time.
Whether you’re adding your first HMO to your portfolio or continuing a multi-property expansion, we’ll make sure that you have the correct finance in place to achieve maximum returns.
Credit Assessment
Everest’s experts will assess your finances to understand what deals are right for you.
Talk to an expert today
Brighton boasts one of the UK’s most active HMO markets. Do not let mortgage issues stand in the way of taking advantage of the opportunities. With Everest Mortgages Brighton, you can have a trusted partner who understands the local market and has access to expert HMO lenders.
Get in touch with us now to discuss your plans and find the perfect mortgage solution for your HMO investment.