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You are here: Home / Mortgages / HMO Mortgage / HMO Mortgage Product for First Time Buyers – 3 Year Term Loan

by Payam Azadi

HMO Mortgage Product for First Time Buyers – 3 Year Term Loan

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buy to let Mortgage Broker

If you have been surfing the net or talking to brokers you are probably acutely aware that buying Houses In Multiple Occupation (HMO property) as a first time buyer is very challenging.

The traditional method is by way of bridging finance but even then the lenders are few and far between for HMO first time buyers.

The good news is we have an attractive rate lead solution for HMO first time buyers that does not evolve expensive bridging finance which typically retails at 1.4% to 1.6% per calendar month.

Full details on our HMO product below:

HMO First Time Buyer Rates
Rates start from 7.99% with a further 2%pa which is payable on redemption or as flat 9.99% rate per annum. Experienced landlords are currently being charged rates of about 5.5% to 6.5%. So the key is to serve your first time buyer apprenticeship on this product and move onto even more profitable ventures.

Loan to Value
Maximum of 60% loan to value. Just so we’re clear you will need to have 40% deposit to access the scheme. The reason for this size of deposit is lenders view first-time buyer landlords as a greater risk and therefore they want the reassurance that you are fully committed to the project.

Minimum property value
Minimum loan amount for this type of property is £200,000

Loan Sizes
Minimum £50k and borrowing can go up to £100 million if needed so there is certainly no shortage of funds as long as it’s based on sound business proposition.

More Information

Fixed Term 3 years
Max LTV Up to 60%
Min Loan £50,00

To find out more about HMO Mortgages or Bridging Finance, please call us on 020 7993 2044 or alternatively complete the simple enquiry form on the top right hand side of this page.

Payam Azadi is a partner at Niche Advice Ltd who are Independent Financial and Mortgage Advisers in London.

Payam Azadi

Author: Payam Azadi

Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines. To get in contact with him please click here.

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Filed Under: HMO Mortgage Tagged With: buy to let hmo, deposit needed for hmo, Fast hmo finance, HMO First Time Buyer Rates, HMO Mortgage Product for First Time Buyers, Hmo mortgages for FTB, hmo product rates, HMO Property, hmo property finance, Oversearse Buyers HMO Mortgage

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AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

Our Fees

Click here for our fees structure. A full detailed fee plan will accompany all our quotes.

Niche Advice Limited has a commercial arrangement under an affiliate programme with Check My File and is remunerated for referrals.

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If you wish to register a complaint, please write to us on the details below or call us on: 020 7993 2044.

Correspondence Address: Niche, Unit F6, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG.

A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 0234567.

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