HMO Given the Go Ahead
UK Property Finance has seen a rise in interest across the HMO (House of Multiple Occupancy) segment due to the yield attractiveness for property investors, and this sector seems to be expanding as an asset class in its own right.
Existing HMO licence already present
With this particular case, the client had prior experience in this space which gave our team immediate comfort – an added bonus being that an HMO license was already in place.
The property comprised of a three storey mid-terrace Edwardian house that has been converted to provide four en-suite bedrooms, two communal kitchens, laundry room and a self-contained second floor studio flat.
The property was located at the Northern end of the desirable and sought after ‘Haringey Ladder’ and was registered as a Home in Multiple Occupation with Haringey Borough Council.
UK Property Finance sourced a dedicated HMO financial solution that services the HMO offering and yields a range of benefits for existing HMOs across the country.
The deadline for the client was met by working closely with the broker and all parties were very positive with regard to the customer outcome.