Mortgage guide
Can I get an HMO mortgage on a 10-bed HMO without experience?
Yes, it is possible to get an HMO mortgage on a 10-bed HMO without experience, but it comes with certain conditions. Lenders typically offer higher lending rates for such high-risk investments. You can expect a Loan-to-Value (LTV) ratio of up to 75%.
- Published
- 30 Mar 2026
- Last reviewed
- 30 Mar 2026
- Reading time
- 3 min
Can I get an HMO mortgage on a 10-bed HMO without experience?
Yes, it is possible to get an HMO mortgage on a 10-bed HMO without experience, but it comes with certain conditions. Lenders typically offer higher lending rates for such high-risk investments. You can expect a Loan-to-Value (LTV) ratio of up to 75%.
Interest rates: due to the perceived risk of managing a large HMO without experience, mortgage lenders will often charge higher interest rates.
Yield-based valuation: for applicants with a personal income of over £50,000 per annum, the property may be valued based on its rental yield. This method focuses on the income potential of the HMO rather than just its market value.
Hybrid valuation: for those who do not meet the income criteria, lenders may use a hybrid valuation or a traditional bricks and mortar valuation. Hybrid valuations usually give recognition for the adaptability of the property as a HMO, but it is not a yield based valuations.
Bricks and mortar valuation: for those who do not meet the income criteria, lenders may also instruct a traditional bricks and mortar valuation. These consider the physical value of the property, comparably without a yield based approach and occasionally, it may also be on a 90 day basis, which refers to a property valuation method where the value is based on the price that can be realistically achieved within 90 days. This approach ensures a quick sale price, which can be lower than a standard market valuation but provides lenders with a more conservative and risk-averse assessment.
HMO calculator
HMO mortgage criteria
These wider product criteria provide context for this guide. The lender will assess your individual case.
| Criteria | Detail |
|---|---|
| Borrowers | Personal, Ltd co, LLP, Offshore Trusts |
| Repayment type | Interest only, repayment |
| Term | Up to 40 years |
| Experience | Not required |
| Max applicants | 6 |
| Valuations available | Market value 1 (MV1) Commercial valuation (yield based), Hybrid, or bricks and mortar. |
| Max rooms | None |
| Tenant types | Students, professionals, social housing, DSS |
| Locations | England, Wales, Scotland & Northern Ireland |
Published indicative terms for the wider product category are shown for context. They are not a quote for the specific circumstances discussed in this guide.
| Feature | Detail |
|---|---|
| LTV | 75% |
| Fixed Term | 5 Years |
| Rate | 5.69% |
| Product Fee | Nil |
| Valuation | Bricks and Mortar |
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Frequently asked questions
Can I get a hybrid valuation on an 8-bed HMO?
Yes, and these products are usually much cheaper, but the method may not be appropriate. If the vendor is selling at a price based on a commercial valuation, obtaining the same valuation basis on the mortgage matters, because a hybrid valuation is less likely to reach the purchase price.
Can I get a HMO mortgage with no experience?
Some lenders will consider first-time HMO landlords, but options are limited. Higher deposits, strong personal income, or existing buy-to-let experience may be required to offset risk.
Do I need landlord experience to get an HMO mortgage?
Most HMO mortgage lenders prefer applicants who already have experience as a landlord. Some lenders will still consider first-time landlords for an HMO mortgage, though often on more restrictive terms. Landlord experience is typically assessed alongside the property's rental income and management plan.
Will I need experience for a large HMO mortgage?
No: a large HMO mortgage is available without experience. However, a commercial lender offering an MV1 valuation will usually want good experience or, in our experience, personal income of at least £50,000, and without either the lending may be against a bricks and mortar valuation, which can affect the exit.
Do I need HMO experience to mortgage a converted block?
Not always. Some lenders consider first-time HMO investors, usually with a larger deposit and a narrower choice of products. Above six units, more lenders ask for HMO experience or a higher personal income, so experience makes a bigger difference on larger converted blocks.
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