The brokers’ guide to HMO changes

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  • 20/11/2018
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The brokers’ guide to HMO changes
Specialist Lending Solutions has produced a guide in association with Castle Trust and Magellan Homeloans to help brokers understand the changes to houses in multiple occupation (HMO) rules.

 

The guide highlights the key elements of regulation change in the market which were implemented in October.

It breaks down the extension of the licencing regime, the removal of the three-storey factor and new regulations on room sizes.

How landlords will be affected by the changes is also addressed while it outlines the potential punishments and fines landlords could face if they fail to comply.

Brokers should also be aware of how landlords could face the choice of taking a hit on their income by losing rooms or financing renovations to maintain the property.

The guide concludes by reminding brokers that under the portfolio lending regime, landlords could find that problems with one or more HMO properties could impact their whole portfolio.

 

You can download the guide by following the link here or clicking on the front cover image below.

 

 

 

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