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Student Lets and HMO Mortgages

  • Student Lets & HMO
  • To 85% Loan to Value
  • No Maximum Bedrooms
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  • Common Sense Underwriting
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  • No maximum age for residential & buy to let mortgages Lenders
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Student Lets and HMO Mortgages

Student Let HMO (House of Multiple Occupation) Mortgages are becoming a more popular choice for many of our clients given the recent tax changes made by the Chancellor in recent budgets to buy to let income mortgage interest relief.

The main reason for this, a lot of clients tell us, is that generally landlords letting a property on a room by room basis individually to students or sharers creates a higher yield than if the property was let to a single family or sharers on a single tenancy agreement. The increased rental income, we are told, then assists landlords reduce the impact of the new tax buy to let changes.

Local Authorities across the UK also have different licensing rules regarding Student Lets or Houses of Multiple Occupation (HMO’s). This is set based on the number of sharers in the property and/or the number of storeys in the building. For instance, in some areas, a standard property let to more than 2 sharers individually would require an HMO license from the Local Authority.

Typically, customers contacting us to arrange a Student Let Mortgage or HMO Mortgage often tell us they:

  • Have been previously declined by their existing Bank or Lender as they are not comfortable with the property being let on individual tenancy agreements or the fact that the property requires a license from the Local Authority;
  • First time buyers wishing to purchase their first property as a buy to let;
  • Clients aged over 60 wishing to purchase a student let or HMO property using cash from their pension;
  • Remortgaging an existing student let/HMO property to release cash for home improvements, debt consolidation, school fees and other expenses;
  • They live or work overseas – and are classed as ex-pats;
  • They have been declined on credit score or for adverse credit by a lender; and
  • Extending the length of their student let/HMO mortgage which may soon be coming to an end.

 At RockHopper we can look to assist clients looking to arrange a student let or HMO mortgage with as little as 15% deposit or equity in the property, however typically the deposit requirement is 25% to 30% of the property value.

We appreciate everyone’s particular situation is unique, which is why we look at every enquiry on a case by case basis.

If you would like to see whether we can help you raise a mortgage on a student let or HMO property, do get in touch for a free no obligation quotation.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Rates are updated daily and can be withdrawn at anytime without notice by lenders.”

Think carefully about securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.

Commercial Mortgages and some forms Buy to Let mortgages are not regulated by the Financial Conduct Authority.
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I agree for my personal information to be treated as confidential and held in accordance with the Data Protection Act 2018 (DPA 2018 also know as GDPR) in order to be contacted with details of services and products in writing, by email or telephone by Rockhopper Mortgages and its agents

 

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Excellent Service

Outstanding from start to finish. Great communication throughout. They fully explained everything an....
For service -  Resi/Remo/8 Main Drive
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Really happy with the service given much appreciated thank you

By: Steven Brown
Friendly and polite service kept me informed on what was going on Really happy with service given th....
For service -  Resi/Remo/ Keep Hill Close
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Amazing

Very helpful, and took the stress out of finding a mortgage that suited us. David and Alex were amaz....
For service -  Resi/Purchase/Field Gate Close
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Excellent service, really felt involved and well informed,thoughout

By: Kathryn Thompson
Very professional, communication excellent, David and Alex were lovely to work with, I had full co....
For service -  Resi/Purchase/Roehedge
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knowledgable and easy

By: Bramadarshan Ganesan
Thank you for your help withthe mortgage.....
For service -  Resi/Purchase/Hebron Court
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Knowledgable & Trustworthy

By: Zara Truscott
My partner had previously used Rockhopper and was thoroughly satisfied with the service from David. ....
For service -  Purchase/37a Leek Road
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Great communication and efficient handling of mortgage application!

Great service from David and Alex. Found us as good a deal that was available to us at the time, spe....
For service -  Resi/Remo/Victoria Avenue
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Excellent service

Calm and efficient service. Good communications. All went according to olan.....
For service -  Resi/Purchase/Barclaugh Drive
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Returned customer. Very Professional and Knowledgeable Mortgage brokers.

I have always been impressed by the professionalism of the brokers at RockHopper. I worked with them....
For service -  Resi/Remo/Waverley Avenue
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Excellent Service. Would highly recommend.

I received excellent service from David & Alex. Great communication and very efficient, it was a ple....
For service -  Resi/Purchase/Brighton
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Very professional and found us a solution when other brokers couldn't.

David spent time finding a solution for our non standard requirements which other brokers could not ....
For service -  Resi/Remo/Cherrington
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All thanks to Rockhopper, we have just completed on our new home...

By: Graham Fisher
We've just completed on our new home and its all thanks to Rockhopper. Our circumstances are not the....
For service -  Resi/Purchase/Newtown
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Efficient, transparent and helped us get a mortgage when no one else could!

By: Nzinga Akinshegun
Very efficient. Both David and Alex went above and beyond to get us a mortgage. They would answer em....
For service -  Resi/Purchase/Hamslade Cottage
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Great Service, Patient and Helpful.

By: Edward Impey
Kept us informed, looked at different options but mainly sourced us finance where everyone else stru....
For service -  Resi/Purchase/Hamslade Cottage
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Highly Recommend

Great service, unfortunately hampered by terrible service from the lender. David went the extra mile....
For service -  Product TX/Dale Street
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Rockhopper is awesome!

By: Tracey Yoko
Service and communication always professional and efficient. David and Alex were a pleasure to deal ....
For service -  FTB/BTL/Purchase/St Georges Gate
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Excellent service

By: Alistair Myles
RockHopper were efficient and effective and I would not hesitate to recommend them.....
For service -  ProductTX/Westcote Road
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Rockhopper was great service to arrange out mortgage. We found great options quickly and they helpe....
For service -  Resi/Remo/Cleveland Road
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David Rostron helped us finding the perfect mortgage. Highly recommend.

By: Ivor Du Merwe
Service was great and David knows literally everything in the mortgage market.....
For service -  JASP:Resi/Purchase/Woodlands House
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Excellent customer service

By: Christopher Spicer
Great services from start to finish from Alex & David. Good communication and dealt with everything ....
For service -  Resi/Purchase/Bruneval Gardens
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Information is based upon our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from taxation, are subject to change.

RockHopper Mortgages is a trading style of RockHopper Origination Limited, an appointed representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority.

Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.

Some forms of Buy to Let mortgages and Commercial mortgages are not regulated by the Financial Conduct Authority.

A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.

RockHopper Origination Limited is a company registered in England and Wales with company number 10241688. Registered Office:Rockhopper, Blackwell House, Guildhall Yard, London, EC2V 5AE

The information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

CONTACT US

Tel: 0203 621 5696
Fax: 0203 621 5697
Email:info@rockhopper.uk.net

Address: Rockhopper, Blackwell House, Guildhall Yard, London, EC2V 5AE

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