A HMO is a property rented out to at least 3 people who are not from the same household but share facilities in the building like the bathroom and the kitchen. A good example of this is a student house share. Most HMO’s have been subdivided from larger houses designed for and occupied by one family.
The key difference between a MUFB and an HMO is that each unit is self-contained with its own private entrance and separate AST (Assured Shorthold Tenancy), as opposed to an HMO property with shared kitchen, bathroom and communal area.
ANY PROPERTY USED AS SECURITY, INCLUDING YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. COMMERCIAL MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY OR THE PRUDENTIAL REGULATION AUTHORITY.
FFP SolutionsOld Bank Chambers, High Street,St Asaph, LL17 0RD
Registered in England and Wales Company No. 08958626, Registered Address: Unit 32 Llys Edmund Prys, St. Asaph, Denbighshire, LL17 0JAFFP Solutions Ltd is a credit broker and not a lender and is entered on the FCA register under reference 624257You can find FFP Solutions on the Data protection public register under reference: ZA056605
YOUR HOME OR YOUR COMMERCIAL PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
THE GUIDANCE PROVIDED WITHIN THIS WEBSITE IS SUBJECT TO THE UK REGULATORY REGIME AND IS THEREFORE PRIMARILY TARGETED AT CONSUMERS IN THE UK
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