HMO Refurb or Conversion Finance

HMO mortgagesWe understand that some investors specialise in the HMO (House in Multiple Occupation) sector and target properties that can be converted from a single dwelling to a HMO as clients seek to maximise both the capital value and rental returns – we want to support you with these applications.

This product allows clients to purchase or refinance the property, complete the works and then release the additional capital value that they have created following the refurbishment without any further arrangement fees.

HMO conversions – Release up to 75% LTV based on the after works value

We will lend up to 75% of the after-works value with a retention to 75% of the current value / purchase price. The retention is released once works are completed and a new valuation is provided with confirmation that the property is tenanted.

The clients have the option of either a 3 or a 5 year term and can have this on an interest only basis or they can choose part capital repayment where they will de-leverage their balance over the term of the loan.

Clients can release the funds as and when the work is done, so no 6 month minimum. Also the client has the security of having a longer term deal and not needing to refinance to access any increase in value.

Read more about HMO mortgages here

Call 0800 316 1612 to discuss how we can help grow your property portfolio.

New HMO Mortgages & Multi Unit Block Buy To Let Rates – Fixed & Trackers

HMO buy to let mortgageGreat news Enable Finance have a suite of new fixed and tracker buy to let mortgage rates for the professional landlord. The new low rates present an ideal opportunity for property investors looking expand their portfolio or release equity from their existing HMO’s or properties that sit within a multi-unit block.

HMO (House in Multiple Occupation) properties can offer the professional landlord a fantastic rental yield but they can be often seen as difficult to raise finance against. Enable Finance are specialist buy to let mortgage brokers and have an excellent panel of lenders to fund your HMO properties. 

HMO Mortgages Best Buy To Let Rates

4.20% 2 year tracker, 65% LTV, product fee 3.00%

4.50% Lifetime tracker, 65% LTV, product fee 1.50%

5.49% 5 year fixed, 75% LTV, product fee 2.00%

4.85% 5 year tracker, 75% LTV, product fee 1.75%

4.45% 2 year fixed, 75% LTV, product fee 3.00%

For more information information on buy to let mortgages please visit our product page and if you have any questions about HMO’s or want to understand more about what a house of multiple occupation is or how they are defined please look at the following HMO blog post.