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. 

 
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Email:info@propertyhawkbtlmortgages.co.uk

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.

London property boom built on dirty money

London property boom built on dirty money - 36,342 bought through secret companies in offshore tax havens http://t.co/qoSh3mt1X9
— Paul Lewis (@paullewismoney) March 4, 2015

Prime London property up by 0.1%

Knight Frank's Prime Central London Sales Index for February 2015 recorded a 0.1% rise over the month.  

The figure brings the annual growth rate down to 4%, less than half of the 2014 average of 8.1%.

Some prime London areas experienced price falls, with Chelsea down by 0.8% and Notting Hill and South Kensington both falling by 0.2%.

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Prime London rents rise by 0.2% in Feb

Knight Franks latest Prime Central London Rental Index for February 2015 report a 0.2% rise over the month, putting the annual growth rate at 4% - the highest level in more than three years.

With record global stock market performance over recent years Knight Frank believe prime London rents will remain positive for the medium-term.

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BTL lending will break £30bn

Leading buy-to-let experts predict mortgage lending will go beyond £30bn this year and the private rental sector will account for 25% of all residential properties by 2020.

Buy to let lending has grown from £15.7bn in 2012 to £20.7bn in 2013 and jumped to £27.4bn last year. It is predicted to surge past £30bn in 2015 despite the uncertainties of the sector due to the general election.

Speaking at the Great Buy-to-let Debate in London David Whittaker from Mortgages For Business commented: “I think we’ll end up seeing around £31bn in lending to landlords this year, which would be about 12 per cent growth from where we were in 2014.  I think that is a sensible figure to chase, let’s achieve it and not go mad. Ten to 12 per cent growth indicates a stable market.”

The buy-to-let panel consensus was that the private rented sector will account for one in four properties by 2020 up from 19.4% at current levels.

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NHF debate London's property shortfall

Housing debate with @joesarling + others on @LondonLive - watch now at http://t.co/Rv9214uGuJ pic.twitter.com/L7ivHHW89M

— National Housing Fed (@natfednews) March 3, 2015