Convert BTL to HMO Mortgage Transistion - Chicken an Egg

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    Convert BTL to HMO Mortgage Transistion - Chicken an Egg

    Hi,
    I recently purchased a BTL using standard BTL product, during the very light refurb I've decided to convert to my first HMO. Is it best to apply for the license then remortgage after the 6 month rule, to HMO mortgage with the license in hand, or remortgage to a HMO product as soon as the 6 months is passed? Or, rent to 4 professionals within the terms of my BTL mortgage whilst moving through the licensing process to eventually let 8 units total once the new HMO funding and license is in place? Thanks.

    #2
    4 professionals will be an HMO, even if it's one that may not require a licence in your area.
    Anything more than two unconnected adults will have the same issue.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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      #3
      thanks jpkates, thats the 4 professionals option off the table then.

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        #4
        If you re-post this under the Finance and investment questions section, then you will probably also get advice on the mortgage issues.

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