BTL2020: HMOs have required fewer payment holidays – McDowell

However, a survey of landlords conducted by the lender discovered administering HMOs can take four times the work of a standard buy-to-let property.

Speaking at the Buy to Let Online Forum, the lender noted that its HMO portfolio had been much less likely to require landlords to take payment holidays.

Charles McDowell, managing director of specialist mortgages at HTB explained the situation while discussing the pros and cons of HMO ownership.

“During lockdown, the HTB HMO portfolio has required much less support in terms of payment holidays than the rest of the portfolio,” he said.

“And we’ve had strong demand which is increasing. I think post-Covid we are going to see increased demand for HMOs.

“HMOs are not what they used to be, they are great assets, fantastically well furnished with a high calibre of tenant. But there are cons.”

McDowell also explained some of the main benefits and drawbacks of other specialist properties such as short-term lets and semi-commercial units, including likely workload and yields.

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