Mr Offer’s HMO Design & Build Mortgage Case Study
In this case study, we explore how a UK expatriate living and working in Singapore was able to achieve his ambition to enter the HMO Finance market. By taking his individual circumstances into account and tailoring a product to his financial objectives, P Offer was able to diversify his asset portfolio and at the same time provide a passive income stream whilst he was away.
P. Offer is a UK expat residing in Singapore and when he approached Liquid Expat Mortgages, he was keen on investing in property back in the UK. Through a local estate agent in the UK our client had been presented with a promising opportunity to convert a large property into a House in Multiple Occupation (HMO) in a prime location.
He’d identified a large five-bedroom house with a large garden and off-road parking. The property was in a very poor state and would require substantial refurbishment. As such he lacked the necessary funds to finance the purchase and at the same time renovate the property to the standards required, which would allow him to achieve a strong rental yield and offer him an income stream in the years to come.
Here’s how it worked.
Mr Offer found Liquid on a Google search and approached us for advice and help as to how he might be able to achieve his objectives. Having developed strong relationships with several specialist Expat HMO lenders over the years we were able to address our client’s requirements in a way which allowed him to secure the property.
By understanding Mr Offer’s needs and objectives we were able to tailor the HMO Design and Build Mortgage to his requirements and he obtained enough borrowing to ensure a good quality refurbishment. The HMO conversion project was completed with minor delays but is now managed by a local company with good Local Authority links, and it is consistently occupied generating significant rental income giving him a steady stream of passive income while living abroad.
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