Any investors who feel the need for a light refurbishment. God knows I do...Will be relieved to know that they can get finance for this from Mortgages For Business.
The buy-to-let mortgage product is not aimed at landlords that are carrying out a more extensive development project but would be perfect for a property needing a little bit of a spruce up inc new kitchen and bathroom, etc.
The buy-to-let mortgage is available up to 65% LTV for the initial purchase. Further funds are then released at the end of the refurb up to 70% of the new LTV. The interest rate is 5% above base with a 1% loading during the period of the refurb.
There is a lenders fee of 2.5% and also a brokers fee for this buy-to-let mortgage product.
Free property management software, Free tenancy agreements
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