Multiple Occupancy

Multiple Occupancy explained

A House in Multiple Occupation (HMO) mortgage is a type of buy-to-let mortgage. This mortgage is used for a single property which is let out to three or more individuals, who are not members of the same family, and on separate tenancy agreements. Multiple Occupancy is more commonly referred to as a house share.

Multiple Occupancy mortgages

HMO mortgages are available from several lenders and are specifically for multi-let properties with multiple tenancies. Standard buy-to-let mortgages do not allow multiple tenancies in their terms and conditions.

Most lenders require a minimum deposit of 25% for this type of mortgage.

Process

We believe in a simple step-by-step approach to help you find the right mortgage for your needs.  

Over the course of our appointments, we will find out about you and your current situation as well as what you are looking for in a mortgage. This will help us assess your circumstances and we can decide the best way to proceed. 

We will search for suitable products for you, through a range of mortgage deals across the marketplace and then present the most suitable offer for your needs in an easy to understand document.

• We will learn about you and your needs
• Discuss your mortgage and protection requirements and affordability
• Provide recommendations tailored to your situation
• Explain the mortgage and reasons behind our recommendation in full
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Fees

There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.

The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

Contact an Expert

Our team of experts are here to answer any questions you may have without all the jargon. Get in touch now to see how we can help you reach your mortgage goals.