Discover Tailored Solutions for Unique Properties with Our Specialist Property Mortgages
At Madison Finance, we understand that every property investment comes with its unique challenges and rewards. That’s why we offer an array of Specialist Property Mortgages designed to accommodate a diverse range of property types – from Houses in Multiple Occupation (HMOs) and Multi-Unit Freehold Blocks to Holiday Lets and Non-standard Constructions. Our aim is to provide the necessary financial solutions to help you capitalize on your specialist property ambitions.
Our team of seasoned mortgage advisors have extensive experience navigating the complexities associated with specialist property mortgages. We tap into our vast network of lenders, many of whom are focused on niche sectors, to source the most competitive terms for your investment.
Whether you’re venturing into the HMO market, considering a holiday let investment, or looking to finance a non-standard construction, you can trust our team to deliver a mortgage solution that aligns with your unique needs and financial goals.
House in Multiple Occupation
A House in Multiple Occupation (HMO) is a type of rental property that is occupied by three or more tenants who are not part of the same household and who share facilities such as kitchen and bathroom. HMOs are popular with both landlords and tenants due to their flexibility and affordability, particularly in areas where housing is in high demand.
However, obtaining a mortgage for an HMO can be more complicated than a standard residential property. This is because lenders perceive HMOs as higher risk due to the potential for increased wear and tear and rental income uncertainty.
Additionally, there may be legal requirements for HMO landlords, such as obtaining an HMO license from the local council.
At Madison Finance, we have experience in helping clients secure financing for HMO properties. We work with a range of lenders, including those who specialise in HMO mortgages, to find the best options for our clients. We can provide guidance on the documentation required, advise on how to improve your chances of approval, and help you navigate the application process from start to finish.
Multi-Unit Freehold Block
A multi-unit freehold block is a type of property investment that involves the ownership typically of multiple flats or apartments within a single building. This type of property can be highly profitable as the rental income from multiple units can provide a reliable source of income.
However, financing the purchase of a multi-unit freehold block requires a specialist mortgage product. Unlike traditional mortgages, which are designed for individual homes, specialist mortgages are tailored specifically for investors looking to purchase and rent out multiple units within a single freehold block.
Our team of experienced mortgage advisers can help you find the right mortgage product to suit your needs and budget and guide you through the entire mortgage process from application to completion.
A multi-unit freehold block is a highly profitable property investment, but it requires a specialist mortgage product to finance. Contact us today to learn more about our specialist mortgage products and services.
Holiday let
A holiday let mortgage is a type of mortgage that is specifically designed for people who want to buy a property in the UK to use as a holiday home, which will be rented out to holidaymakers on a short-term basis. This type of mortgage is different from a standard buy-to-let mortgage, which is designed for people who want to buy a property to rent out on a long-term basis.
A standard buy-to-let mortgage is designed for investors who want to purchase a property to rent out to tenants on a long-term basis. The property is usually let out on an assured shorthold tenancy (AST) for six to twelve months, and the tenant is responsible for paying rent and utilities.
On the other hand, a holiday let mortgage is designed for investors who want to purchase a property to rent out as a short-term holiday accommodation. The property is usually let out on a weekly or monthly basis to holidaymakers or tourists, and the investor may also use the property for personal use.
Non-standard construction
Obtaining a mortgage on a non-standard construction property can be a complex process. Non-standard construction properties are those that are not built using traditional methods or materials, such as timber-framed or thatched properties.
Lenders often view these properties as high-risk, which can make it difficult to secure a mortgage. However, some specialist lenders offer mortgages specifically for non-standard construction properties.
To increase your chances of getting approved for a mortgage on a non-standard construction property, it is important to gather as much information as possible about the property’s construction and history. This can include obtaining a survey, as well as any relevant planning permission or building regulations certificates.
It is also important to work with a specialist mortgage broker who has experience dealing with non-standard construction properties. They can help you find a lender who is willing to offer a mortgage on your property and guide you through the application process.
