We were approached by a client – a full-time landlord with over ten properties in his portfolio. He was looking to purchase a nine-bed HMO in a Kentish seaside town. The client was planning to make this purchase via his SPV limited company.

There were two main challenges with this case that would limit the number of finance options available.

1. The client has no experience in letting HMO property. Most lenders like to see experience in renting HMOs.
2. The HMO was a 9-bed property – most of the specialist lenders will only lend on up to 8-beds.

We approached a specialist lender which we knew would take a view on the case. From submitting the application an offer was received within five days. The clients agreed the following terms: