Jump to content

Help please, surveyor recommends decline mortage

Christina Simons

Recommended Posts

Hi, we have a 12 bedroom HMO with 11 bedrooms occupied. We are located in the New Forest National Park and are looking for a mortgage of less then 50%. Paragon's surveyor has declined the mortgage because they say there is no demand. The reason, there is no other HMO like this on in the area.

We want to contest this

All thoughts welcome


Link to comment
Share on other sites

Here's s a few ideas :-..........

Use a mortgage broker.

Try comparison web sites.

Take a look at 'Which' mag mortgage providers.

Speak with other HMO operators.

Join a landlords association for free help and advice.

Use a lettings agent with a mortgage advisor.

Good luck

Link to comment
Share on other sites

No idea.....

Never had a mortgage application refused.

Never had or will have an HMO.

Have no experience of financing an HMO

Don't think I know anyone with an HMO.

Don't recall ever being in or near an HMO.

So, I'm probably not the right person to answer specific questions. I was just trying to approach the issue with some ideas.

I am not aware of any regulars on this site with an HMO.

Hopefully you are posting your question on other web sites ?

One site that does provide financial help is the Property 118 web site who have specialist mortgage providers....well worth a try.

Link to comment
Share on other sites

Do  google search for Letting agents that specialise in HMO's and call them up for details of any mortgage advisers they may have on file that specialise in HMO mortgages.   

Link to comment
Share on other sites

New Forest is on my doorstep and I know that accommodation is a problem for singles so an HMO would be a good buy (depending on area).  You could also do well letting it on Airbnb though mortgage companies aren't too keen on that.

Have you checked out if this HMO is licensed and complies with fire regs - often a reason they come up for sale I find?


Link to comment
Share on other sites


This topic is now archived and is closed to further replies.

  • Create New...