Comments on: Ask Matthew Your Property Questions

By: Ram Chand

Ram Chand — Tue, 15 May 2012 17:35:56 +0000

Hi Matthew

thank you for the great site.

I am looking for HMO finance of 70% LTV

Are you aware of any lenders not requiring ownership of property for 6 months prior to lending.

Many thanks.

Ram

By: Joseph

Joseph — Mon, 14 May 2012 15:30:56 +0000

Hi, I am a student and I have a few questions whilst I am flat hunting.

Essentially, Me and 2 friends are looking for a flat to rent for the next academic year. We are looking for a 3 bedroom flat. If its only the two of us paying the rent and signed on the contract and essentially the third person is a visitor (not paying rent/amenities) do we still need to be searching for flats with HMO’s ??

I dont know if you know but all the flats with HMO are somewhat…substandard to those without.

Thanks

Joe

By: Matthew Moody

Matthew Moody — Mon, 12 Mar 2012 10:06:34 +0000

hi Robert,
just because its a HMO doesn’t meant to say it needs licencing. Licencing is for specific types of HMO;s – ie 3 storeys or certain types in large university towns.

You can find out from the council if it needs licencing by ringing them up. But sounds like as long as it has a fire system and fire doors in and its a 2-storey building that it should be ok.

But always check with the local council.

By: Robert Smith

Robert Smith — Sun, 11 Mar 2012 02:02:55 +0000

Hi, four of us have been looking for a place to stay for next year and we’ve found a 4 bedroom house that doesn’t have a HMO licence. However, the landlord is willing to rent it to us, knowing there will be four unrelated people living there, if only two of us sign the lease.

Now if we were caught what would be the the repercussions? Would the landlord simply be forced to evict the two not on the lease or could we face prosecution?

If it’s simply a case of two of us getting kicked out we’d probably be happy to take the risk as we’re all relatively quiet and the house is down an alley with offices on either side, so we’re unlikely to draw any unwanted attention due to noise etc.

By: james jackson

james jackson — Thu, 08 Mar 2012 17:20:06 +0000

Hi Matt,
I have a HMO 3 stories 5 room house and im in the process of getting it licensed, i was wondering about the utility bills,

which of the following scenarios can i do?:

The house on pre-pay meters paid by the tenants.
I pay the bills myself and add it into the tenants rent.
or
I pay it myself and bill the tenants each month when i do readings?

By: Matthew Moody

Matthew Moody — Tue, 13 Dec 2011 11:17:38 +0000

Colin, it would appear to me that the valuation department have incorrectly valued it as 3 flats (which is perhaps what is was) but in 2005, you changed it to a HMO. You should have then at this point gone back to argue the point. If they are bedsits and self-contained, its hard to argue this point though!