Paragon HMO mortgage
For those who want to potentially maximise the potential of their property, it may be worth exploring the option of an HMO (house in multiple occupation). To finance an HMO buy to let, you may need a substantial amount of funding and Paragon could be your best option. If you are interested in a Paragon HMO mortgage, speak to use first to find out the best HMO mortgage available on the market.
Special features of what we offer include:
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Whole of market service - we work with over 60 UK lenders including Paragon
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Leading rates - Access to leading market mortgage rates
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Exclusive deals - Access to exclusive loan deals not available on high street
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Fast turnaround - speak to us today if you need to move quickly
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We have lenders who will take into account previous defaults and missed payments
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Looking to raise additional finance on top of your existing mortgage or buy to let mortgage? - we have access to a range of finance solutions
What is an HMO
When a property is rented out to three or more people that are not in the same household but share facilities such as a bathroom or kitchen, this is known as an HMO. If a property is rented out to five or more people, then this is classified as “large HMO”.
It is important to bear in mind that it is a requirement for landlords to get a local council approved licence to have a large HMO. If you wish to get a large HMO licence, you should review the associated application costs.
Landlords may find an HMO an attractive opportunity, as rent can be charged by the room that may increase the overall return on the property.
Paragon HMO mortgage
If you require finance for an HMO property then Paragon may be the best option for you. The Paragon buy to let mortgage has a fixed term of 2 years with a competitive initial interest rate for 75% loan to value. You may be able to take advantage of the lower rate in the first 2 years by using your additional funds to cover costs of an HMO or another project. See our table above for the latest rates.
Our Services
We work with the majority of UK lenders, and have access to exclusive buy to let mortgage deals for HMOs that are not available on the high street, which means we can make the process of finding an HMO buy to let mortgage that bit easier.
To find more information about buy to let mortgages for HMOs, why not call us today on 0117 403 4474, or fill in our online contact form to request a call-back for a free initial consultation with one of our advisers.