How Your Landlord Experience Affects HMO Mortgages 🏠💡 Thinking about getting an HMO mortgage but not sure if your landlord experience (or lack of it) will hold you back? Here’s what you need to know: 👉 Experience matters: Most lenders prefer borrowers with landlord experience to reduce their risk. Traditionally, 2 years was the standard, but… 📉 Requirements are easing: • Some lenders now only need 6-12 months of experience. • A few even consider first-time investors! 🏡 Homeownership helps: Many lenders want to see you’re already a homeowner, but… • There are lenders who will consider first-time buyers too. 🚀 More experience = more options: The more experienced you are, the more lenders (and better deals) you’ll have access to! 💬 leave a comment below with your thoughts #HMOInvesting #PropertyInvestors #MortgageTips #GrandUnionFinance

Posted by thesamnorris at 2024-11-27 09:08:53 UTC