For landlords stepping into the HMO space, Metro Bank offers straightforward criteria, and a proposition designed to support a wide range of tenant types. Here’s an example of the type of case we can support:
A landlord is purchasing a 4-bed HMO, fully let to single tenants – all students – each on their own AST in personal names. They already own one buy to let and have a year of landlord experience. The property is fully let and self-funding.
This is exactly the kind of scenario supported under Metro Bank’s new criteria.
- Property type: 4 bed HMO
- Tenant profile: 4 single tenants, all students
- Tenancy agreements: Individual ASTs in tenants’ personal names
- Landlord experience: Owns 1 other buy to let, 1 year of landlord experience
- Occupancy: Fully let and self-funding
- Metro Bank solution: Supported under new HMO/MUFB proposition
For full details, please refer to our Mortgage Lending Criteria Guide and Product Guides.
Get in touch with your local BDM; they would love to hear from you. Find your BDM here. Or call our Broker helpdesk on 020 3427 1019. Metro Bank won’t charge you for your calls, however you may be charged by your service provider.