House of Multiple Occupation (HMO's)
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept Buy to Let applications on Houses of Multiple Occupation (HMOs)
Policy Notes:
Family Building Society can consider lending on 'Small Houses of Multiple Occupation (HMO)'. This Mortgage is aimed at Limited Company SPV landlords, only
Warning Notes:
- A 'Small HMO' is a property with up to six occupants from more than one household in a maximum of four bedrooms
- The occupants live together and share common facilities such as a bathroom, kitchen or toilet with one main access. Each tenant must have an individual AST agreement and the right to use shared parts of the property, or a joint AST agreement over the whole of the property will be acceptable
- The property can be easily converted back into a single main dwelling (family home)
- A borrower (the Limited Company) who has at least one existing Buy to Let property that they have maintained for at least 12 months
- Not available for student lets and care homes
Criteria categories:
- hmo
- Property
Last updated:
21 August 2018