HMO mortgaging and re-mortgaging

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F
Finefriend
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I'm finding that lenders are baulking at mortgaging or re-mortgaging HMO's that have wash basins in rooms or more than one bath in the house due to the possibility of water damage.
This seems to be the reasoning. Say, for example, that a basin in a room is pulled off the wall or accidentally damaged, and that water floods the room and any that may be below it. Income from these rooms is assumed to cease and the landlords ability to pay their mortgage is put in doubt.
Have any others encountered this problem, and do they think that this might affect the availability of single room lets and the resale value of their existing HMO's?
12/04/2007 00:00

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