OneSavings Bank amends HMO proposition

Jake Carter

March 16, 2020

OneSavings Bank has announced a series of changes to its HMO proposition.

Precise Mortgages details the number of bedrooms on HMO applications as six.

Meanwhile, Kent Reliance for Intermediaries outlines that HMO applications up to eight bedrooms are to be standard and it will consider more as an exception.

Furthermore, InterBay Commercial will now consider any size HMO application with no limit on bedrooms.

According to the bank, the changes are to enhance its service to brokers, by maximising the underwriting expertise and leveraging the combined strengths within the group.

Alan Cleary, group managing director of mortgages at OneSavings Bank, said: “Ultimately for brokers, these changes ensure that their HMO cases will be directed to the specialist teams that are best placed to handle them, regardless of size or complexity.

“Whether the cases involve investment valuations, large loan sizes or even complex company structures, we have the expertise within the OneSavings Bank group to consider every case.”

“Intermediaries are absolutely fundamental to the success of the group and pivotal in providing borrowers with successful outcomes.

“Our message to them is ‘watch this space’ as there will be many more exciting developments ahead.”

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