{"id":4022856,"date":"2019-02-06T11:54:45","date_gmt":"2019-02-06T11:54:45","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=4022856"},"modified":"2019-02-06T11:54:45","modified_gmt":"2019-02-06T11:54:45","slug":"leeds-building-society-launch-five-year-hmo-mortgage-range","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-hk\/2019\/02\/06\/leeds-building-society-launch-five-year-hmo-mortgage-range\/","title":{"rendered":"The Leeds launches five-year HMO mortgage range"},"content":{"rendered":"<p><strong>The Leeds Building Society is expanding its range of mortgages for houses in multiple occupation (HMOs) just a month after announcing their first foray into this area.<\/strong><\/p>\n<p>Their new five-year products all have free standard valuation and the incentive of \u00a3500 in cashback, and include:<\/p>\n<ul>\n<li>49% available up to 60% LTV (loan to value) with a \u00a3999 fee for small properties<\/li>\n<li>69% available up to 70% LTV with a \u00a3999 fee for small properties<\/li>\n<li>54% available up to 60% LTV with a \u00a31,999 fee for large properties<\/li>\n<li>84% available up to 70% LTV with a \u00a31,999 fee for large properties<\/li>\n<\/ul>\n<h4>Adding to recent new product range<\/h4>\n<p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2019\/01\/08\/new-hmo-mortgage-products-launched-by-the-leeds\/\">A range of two-year HMO products<\/a> were unveiled in early January, and the newly-launched five-year deals are also available for small and large HMOs. The Leeds define \u2018small\u2019 as a property up to and including six occupants, while \u2018large\u2019 is for over six. The maximum number of bedrooms for both definitions is eight.<\/p>\n<p>\u201cWe became the only lender to offer specific products tailored to small and large HMOs when we launched in January,\u201d says Matt Bartle, the Leeds\u2019 Director of Products. \u201cSince introducing the range, we\u2019ve worked closely with our broker partners to refine our products to ensure they meet the needs of borrowers.<\/p>\n<blockquote><p>\u201cFollowing broker feedback we\u2019ve developed these new five-year options for small and large HMOs, which we believe will meet the needs of landlords looking to diversify their portfolios and move into this sector.&#8221;<\/p><\/blockquote>\n<p>\u201cAdditionally, insight from brokers revealed professional landlords often prefer to use their own legal advisers during the buying or remortgaging process. We\u2019ve listened to brokers and introduced \u00a3500 cashback across our new five-year HMO range, which could be put towards conveyancing costs should the landlord choose.\u201d<\/p>\n<p>The Leeds\u2019 move follows <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/09\/11\/three-weeks-until-new-hmo-rules-come-into-play-are-landlords-ready\/\">changes to legislation affecting the HMO sector that came into force in 2018.<\/a> Landlords now have to apply for HMO licences, regardless of the number of stories in their property \u2013 previously, the minimum number was three.<\/p>\n<h4>Increased potential for student market<\/h4>\n<p>This means that thousands more landlords need to apply for a licence, but it also potentially brings thousands of properties into the range of landlords who want to convert one into an HMO.<\/p>\n<p>The student market expanding and one that should HMO landlords. The competitiveness of the market was brought into focus recently <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/11\/15\/students-start-accommodation-search-early-says-which-survey\/\">when Which? revealed that<\/a> 27% of first-years had already found their second-year accommodation by the end of the November of their first term.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Leeds Building Society is expanding its range of mortgages for houses in multiple occupation (HMOs) just a month after announcing their first foray into this area. Their new five-year products all have free standard valuation and the incentive of \u00a3500 in cashback, and include: 49% available up to 60% LTV (loan to value) with<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-hk\/2019\/02\/06\/leeds-building-society-launch-five-year-hmo-mortgage-range\/\" title=\"ReadThe Leeds launches five-year HMO mortgage range\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":3875,"featured_media":18101,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2,40,26,141],"tags":[143,25,341],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts\/4022856"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/users\/3875"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/comments?post=4022856"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts\/4022856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/media\/18101"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/media?parent=4022856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/categories?post=4022856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/tags?post=4022856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}