Supported Living
Supporting Living are properties let to, as the name suggests, people who need support. This could be Asylum Seekers, Victims of Domestic Abuse, Disabled People and so on.
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There’s a very wide variety of tenant types, leases, providers and property types involved. The solvency of the care provider can be important, sometimes they need to be registered with the CQC, some properties have C2 planning, so on and so fourth.
Supported Living Mortgages
Most Supported Living properties fit onto HMO Mortgage Products. There are a subset of HMO Lenders who are often the cheapest option (by far) if the case fits.
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Each situation will need careful consideration and manual review by the Lender before we quote any options. With such a wide variety of searches the impact of correct financial advice is imperative, there can be as much as a 4% difference in interest rate between some of the cheaper Lenders and those more expensive.
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Up to 75% LTV
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All tenants, including Vulnerable people and those with Live-in care, considered
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C2 Properties Considered
Supported Living Bridging & Development
Much like HMOs, supported living developments are built for long term rental income, not sale. With the added complexities of providers, leases, tenants and a limited resale market it is extremely important to work with a Bridging/Development Lender who not only gives a reasonable quote but understands the project and niche. Otherwise, Funding Applications can run into issues once Lenders start to dig in and educate themselves on the area.
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Funding for up to 75% of the site value
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Funding for 100% of build costs
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Deep knowledge of Supported Living