Shared Accommodation properties
Problems raising a Buy to Let mortgage on a property used as shared accommodation, but falling short of needing to be licenced as an HMO can be:
- Lender will only allow rent to be assessed as a single family let – not as shared accommodation
- Lender won’t accept separate tenancies
- Locks on the doors not acceptable
All the above can be overcome by applying to the right lender. At ibmco our many years of experience dealing with Buy to Let mortgages have taught us which lenders are best for which properties. Please contact us.