The following case studies demonstrate a variety of projects and how they have been funded.
Case Study 1
Caerleon Road | Newport | South Wales
This property was previously guest house and in need of light refurbishment. Guest houses often make an interesting choice for conversion to HMO, as they often have compliant fire doors and other safety requirements already in place. To find out more about this case study, click here
Case Study 2
Gladstone Street | Crosskeys | South Wales
As a completely run down ex dos-house and in need of a full refurbishment, Gladstone Street was a large project. Initially purchased using bridging finance and remortgaged at its commercial value (as a business) rather than bricks and mortar, this is a great formula for a cash-flowing HMO. To find out more about this case study, please click here.
Gladstone Street | Skagness
In a predominantly family orientated area, there was opposition in converting this property to a HMO from the neighbourhood. With a renovation and planning required, this is a great success story and was the first HMO undertaken by this client. To find out more about this case study, click here.
34 Elphick Road | Newhaven | Sussex
Initially purchased on a standard BTL mortgage, the owners quickly realised the demand for multi-let in the area and the strategy quickly changed. With a mortgage with early repayment charges, a refurbishment and conversion to HMO with a compliant HMO remortgage quickly followed. And although this area did not require licencing, the owners chose to licence it as this triggered the ability to mortgage on the Gross Commercial Value which is greater than ‘brocks and mortar’ value. To find out more about this great project, click here.
High Street | Blackwood – a retail unit with HMO above
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140 Miskin Street | Cardiff | Shaz and two others
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Vic Armstrong
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David Mason
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HMO Money 