Newly launched specialist BTL lender, Fleet Mortgages, provides more choice for experienced landlords. Experienced landlords that have used up all their life lines with certain lenders can now expand their property portfolio with Fleet Mortgages. Fleet Mortgages will lend on HMOs and to limited companies/special purpose vehicles (SPV)—a welcome relief, as we have been starved of variety in t... »
The 2008 global financial crisis led to the demise of a number of niche BTL lenders, notably: GMAC-RFC SPML Mortgage Express Igroup Edeus Bristol & West Rooftop UCB Homeloans Money Partners Preferred Mortgages Victoria Mortgages Unity Homeloans Capital Home Loans (CHL) Some of these lenders were offering 90% LTV BTL mortgages at 100% rental calculation. Fast-forward to 2015 and we are n... »
Household of Multiple Occupation (HMO) simply means a property that is rented out to more than one tenant. For example: a landlord renting a three bedroom house to five students. Each student will have their own bedroom but share bathroom and kitchen facilities. The landlord converts the lounge and dining room into bedrooms and charges £400 per month x 5 rooms = £2000. A single let is where a pro... »