First-time landlords purchase 6-bed HMO via newly established SPV
Two brothers contacted us for help in finding finance to purchase their first rental property – a six bed HMO in Swansea.
The brothers were hoping for this property to be their first of many, so had set up an SPV limited company through which they would make this and all subsequent purchases.
There were two main challenges with this case that would limit the number of finance options available.
- Both brothers are first-time landlords. Most lenders like to see experience, especially when it comes to renting out HMO property
- The brothers were planning to rent the property to students
We approached one of the specialist lenders which we knew would consider the case. Happy that the brothers were a good risk, the following terms were offered.