I sometimes get messages from subscribers along the lines of “Peter, you’re great at keeping us updated about buy to let mortgage products, but what about mortgages and finance for other types of properties?”
And so in this video I’m going to share details of mortgages available for HMOs (Houses in Multiple Occupation) and MUBS.
What’s a MUB?
A Multiple Unit Building, like a block of flats.
My very good mortgage broker has access to a number of products from a coupe of different lenders.
Here are the headline terms:
HMOs and MUBs
Lender Number One
- 2 year fixed rates reduced up to 0.20%
o Up to 70% LTV – 2.99%
o Up to 75% LTV – 3.09%
Up to 80% LTV
- 5 year fixed rate
- 4.74% – HMOs/MUBs
- Free standard valuation for properties up to £1m
- Fixed product fee of £3,750 – ideal for loans above £250k
Lender Number Two
5 year fixed
Product fee – NIL
Free mortgage valuation
£299 application fee
APRC – 4.30%
If you’d like full details I’m very happy to introduce you to my mortgage broker. Just email and I’ll put you in touch.
Just to be clear, I really don’t mind if you don’t use my mortgage broker, but when applying for finance (especially specialist finance like buy to let finance) you do need to use A mortgage broker.
That’s why I’m not telling you who the lender is. If I did name the lender, despite my warnings, someone will try and apply direct.
But (most) lenders don’t want you to apply direct. They want you to use an intermediary who understands the market and who can confirm that this is the best mortgage product for you.
And I should say, if you do contact my broker and you end up doing business together, he will pay me a small commission. As far as I know, this doesn’t affect you as he doesn’t charge you extra, he just shares with me a small part of the fees he’d receive anyway.
Here’s to Successful Property Investing.
(ex) Chartered Surveyor, author and property investor
PS. By the way, I’ve rewritten and updated my best-selling e-book, The Successful Property Investor’s Strategy Workshop, which is an account of how I put together my multi-property portfolio, starting from scratch and with no money of my own, and how you can do the same.
For more details please go to: