Pick up the December issue of Property Investor News to read an interview with Karl Griggs about avoiding HMO financing mistakes – pages (19-21). You can also read it on the Property Investor News website. He talks about some of the typical mistakes he sees prospective borrowers making that could impact on their ability to obtain HMO financing. Some of the points he raises include:
- Not understanding the difference between an HMO licence and planning permission
- For existing HMOs, not understanding what number of rooms a property might qualify for if it needs a new licence
- Not having a full grasp of the licensing and planning requirements of each council
He also discusses the impact of the pandemic on different property business models and how valuers look at HMOs. Read the full article for more insight.
