Overhaul needed for complex HMO licences

The Bank says there are large inconsistencies between local authorities licensing requirements and claims this is driving investors away from the sector. Heritable surveyed 60 local authorities in different parts of the UK and found the cost of an HMO license varied from just £80 a year in Hillingdon, to £1,100 a year in Newcastle. The average licence fee for a three storey, five-unit property is £563. Heritable’s research also claims there is considerable and growing complexity in the way local authorities administer the scheme. Since 2006, 38% of councils have changed the way they a...