First Time Landlord HMO Mortgages

Yes, some lenders offer HMO mortgages to first time landlords, though criteria may be stricter.

Most lenders require a minimum 30% deposit for first time HMO landlords, though some may accept 25%.

Rates are typically 0.5-1% higher than for experienced landlords, due to increased risk.

Requirements include strong personal income, good credit history, adequate deposit, property management plan, and often a UK-based property manager.

Many lenders require first time HMO landlords to have a UK-based property manager, though some may accept self-management if you have relevant experience.

Property management fees typically range from 8% to 15% of rental income, depending on the level of service and number of properties managed.

Services typically include tenant sourcing, rent collection, property maintenance, legal compliance, and emergency response. Some offer additional services like financial reporting.

You'll need proof of income, bank statements, property details, business plan, property management agreement (if required), and potentially references from employers or accountants.

First time landlord HMO mortgage applications typically take 6-10 weeks due to additional checks and potentially more thorough lender assessments.

Yes, some lenders offer HMO mortgages to first time buyers, though criteria are stricter and you'll likely need a larger deposit and strong personal income.