UK Hostel & HMO Sales
M2L specialise in the sale of hostels, HMOs, care homes, bed sits, guest houses, B&B’s, sheltered housing, rest, retirement & nursing homes in London and Essex.
HMO property investments can produce very attractive rental incomes, however given the regulation and mortgage requirements, investment consideration should be balanced against the benefits that a residential buy-to-let property could provide.
HMO’s, Hostels & Care Homes For Sale in The UK
The general definition of a House of Multiple Occupation (HMO) is a house which has five or more bedrooms and is more than three stories high. This definition can vary between local authorities. It is therefore best to check the definition with the pertinent local authority before purchasing.
Mortgages & Finance for Buying HMO Property
Lenders deem HMO property as commercial property. Unlike a buy-to-let mortgage which is based principally on the income potential of the property, HMO lending is based on the borrower’s personal circumstances.
Applicants for lending on this type of investment property will typically be asked for a full statement of their assets and liabilities.