Property Hawk the landlord's homepage since 2006
Free Tenancy Agreement FREE tenancy agreement
Free Landlord Software FREE landlord software
Home | Property Manager | Free ASTs | Landlord Forms | Mortgages | Insurance | Inventory | Magazine | Landlords Bible | Directory | Forum | Training | News / Blog |

Wednesday, March 04, 2015

Light refurbishment BTL mortgages

The Propert Hawk mortgage service can help applicants with all kind of non standard requirement such as a light refurbishment.

The presentation of rental accommodation can make a real difference to its appeal to tenants and also to rental income.

For example a modern kitchen and bathroom are highly desirable in a buy-to-let property.

Properties that are in need of some light refurbishment work such as a new bathroom/kitchen, electrical work or damp-proofing, can be excellent investments for landlord clients. They may be able to purchase such a property at a reasonable price and then increase its value by undertaking some straightforward improvements.

There are a number of buy-to-let lenders who have specific ‘light refurbishment’ products designed for landlords in this niche area. Saffron Building Society currently has two light refurbishment products including a 5.39% term tracker which is available up to 80% loan-to-value (LTV). They will provide finance based on the current property value and keep a retention of up to 80% of the estimated after-works value, which will then be released to the client after a satisfactory re-inspection of the property.

Kent Reliance, Paragon Mortgages and Shawbrook Bank also have their own ‘light refurbishment’ products, providing a wide range of fixed rates and tracker rates available up 75% LTV. 

Search the whole BTL mortgage market free
Tel: 029 2069 5446
Your home may be repossessed if you do not keep up repayments on your mortgages.  
The Financial Services Authority does not regulate some forms of mortgage.

No comments: