Case Study – Emma’s HMO Renovation Project

Emma's HMO Renovation Project

Emma’s HMO Design & Build Mortgage Case Study

How Liquid Expat Mortgages helped turn an inheritance into a successful HMO investment with the help of an HMO Design and Build Mortgage.

The scenario.
Whilst living and working in the United Arab Emirates, Emma R inherited a property from her grandmother which needed renovation. Despite its poor state, she saw the potential in renovating it, and having had various conversations with colleagues, she was attracted to converting it into an HMO.

She applied for an HMO licence with the local council and started the process of drawing up plans for the house with a planning agent. The main obstacle was that Emma lacked the liquid funds to finance the renovation and conversion of the property into an HMO. She was introduced to Liquid Expat Mortgages via her solicitors in Dubai and after understanding her personal financial situation and what she wanted to achieve, we were able to assess Emma’s situation.

Here’s how it worked.
We presented her case to several specialist lenders and recommended an HMO Design and Build Mortgage to her. This mortgage covered both the acquisition and renovation costs of the property. Although she already owned the property, by “acquiring” it via a mortgage she was able to increase her borrowing capacity.

Once financing was secured, she was able to follow through with her plans and instruct the contractors back in the UK on a fixed cost agreement to renovate the property. The property was successfully renovated and converted into a thriving HMO managed by a local lettings’ agency. The rental income generated from the HMO property now serves as a valuable source of passive income which Emma can use to augment her savings and pension while living abroad.

HMO Design & Build Mortgage Solutions

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