Case studies: Providing flexible Buy-to-Let remortgages for HMO landlords
Despite the challenging environment, the need for remortgaging remained high towards the end of 2022 as Buy-to-Let landlords who’d secured long-term deals, ahead of underwriting changes in 2017, saw their fixed-rates end.
Providing solutions was the key thing for all Buy-to-Let lenders, especially for landlords managing larger properties.
Continuing to offer the right solutions is why we’ve recently opened up our criteria to allow for HMO/MUFB hybrids and now offer HMO student lets up to 10 beds. We also support first-time HMO landlords as well.
Here are some recent examples of HMOs we’ve refinanced, providing solutions for brokers and landlord customers, whether it is to raise capital for further purchases or just a straightforward remortgage.
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South East London
Loan amount: £427,500
LTV: 75%
Product: 2-year tracker
Size: 6-bed HMO
Remortgage to repay the current outstanding mortgage.
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Orpington
Loan amount: £540,000
LTV: 75%
Size: 6-bed HMO
Product: 5-year, greener rate
Raising funds to purchase another Buy-to-Let, this experienced landlord wanted to capital raise through a remortgage.
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Peterborough
Loan amount: £337,500
LTV: 75%
Size: 5-bed HMO
Product: 5-year, greener rate
Looking to use surplus funds to fund further BTL purchases, this landlord was doing a standard remortgage away from another lender.
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Bedford
Loan amount: £300,000
LTV: 75%
Size: 6-bed HMO
Product: 5-year, greener rate
Looking to raise capital, landlord wanted to remortgage on this property they had owned since 2017.
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South West London
Loan amount: £540,000
LTV: 80%
Size: 6-bed HMO
Product: 5-year, greener rate
Remortgage to clear outstanding loan with another lender and capital raise for further Buy-to-Let purchases.
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