Santander HMO Mortgages
An HMO (house in multiple occupation) buy to let may be an attractive way for landlords to increase their return on their property. If you are looking for a mortgage to facilitate an HMO then Santander’s HMO mortgage may be the best option for you. To explore your options in relation to a Sandtander HMO mortgage speak to us to make sure you get the best deal.
Special features of what we offer include:
- Whole of market service - we work with over 60 UK lenders including Santander
- Leading rates - Access to leading market mortgage rates
- Exclusive deals - Access to exclusive loan deals not available on high street
- Fast turnaround - speak to us today if you need to move quickly
- We have lenders who will take into account previous defaults and missed payments
- 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 landlord rents out a property to three or more people, who are not a part of the same household but share facilities like the bathroom and kitchen, it is an HMO.
If a landlord rents a property to five or more people this is known as a “large HMO”. It is important to note, a licence is required for those who wish to rent out a large HMO. To obtain a licence for a large HMO, landlords have to submit an application to their local council. The cost of an application may vary from council to council.
HMOs provide landlords the freedom to increase their return on their property, as they can charge the rent by the room.
Santander HMO mortgage
If you need an HMO mortgage then the Santander buy to let mortgage may be the financial solution for you. Santander offer a range of mortgages, but their buy to let mortgage provides a 2 year fixed rate deal with a competitve interest rate for 75% loan to value. See our table above for the latest rates.
This means that you will only have to pay a small percentage on your mortgage for the first 2 years, which may enable you to use more money on the property itself or on another project.
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 4222, or fill in our online contact form to request a call-back for a free initial consultation with one of our advisers.