The HMO mortgages stands for houses of multiple occupancy. There are several rules which do not affect a buyer’s decision but avoiding them may let you pay huge fines to the government. There are several laws which control how the investors must manage their properties. In most of the cases HMO properties are those properties where tenants are sharing the property. This can be applied to large student residents, dss tenants, single workers or even the toilets and kitchen are being shared.

Most HMO properties will require an HMO license which can be obtained from the local council. Each room size would need to meet building regulations along with other building regulation requirements including linked smoke alarms, emergency lighting, self closing fire doors etc. Along with the usual gas safety cert and electrical cert a yearly maintenance will be required on the fire alarm system.

We have extensive experience with HMO mortgages and can also provide comprehensive building and contents insurance. At this time HMO property purchases are very popular as they can offer high returns. If you are in breach of your HMO licensing agreement you can get fined up to £5000 for each breach so ensure you do regular inspections on your property. When looking for the right HMO mortgage call Discount Mortgages as you will be well looked after. We just don’t offer HMO mortgages we have hands on practical experience in HMO properties.