We are considering moving into a property requiring a certain level of modernisation.

But I'm concerned about finance, we would be living there for a period of 6 months whilst we make it suitable for HMO / tenants. Then we would want to revert back to our current (primary) residence.

For six months therefore we would require a resi mortgage, but afterwards a btl. I'm not sure how we would fund this.

We have the deposit and costs to do the works (funded from my parents)

Sarah

Hi Sarah,

just to be clear is it a HMO property at the moment or a normal property.

Regards
John

It's a normal property, four double bedroom, three storey Victorian through terrace with two reception rooms.

Basically it needs fire doors installing, the kitchen enlarging, smoke alarm system to meet council regs for three storey HMO

Hi Sarah,

I'm afraid no lender will be happy to lend to you on a residential basis if the minute you move in your convert it into a HMO.

You may well need to look for other commercial finance.

Call the office on 01424 205 373 as I sure we'll be able to help.

Regards
John