In recent months we have seen a big increase in the number of enquiries for property refurbishment as more investors have looked to property renovation as a way of increasing their returns.
Property refurbishment is proving popular with both first-time investors and more experienced landlords as it provides a way of increasing capital gains in a flat property price environment and can provide a springboard onto bigger, more lucrative, projects.
We have seen a real mix of enquiries between heavy refurb, where there are structural changes that require planning permission or building regulations approval, and light refurb where these permissions are not required, as well as lots of properties that are technically habitable but need a lot of work.
The most popular region for refurb enquiries has been the Midlands and there is more demand for areas with lower house prices than London and the South East.
As we move into the summer months, the property market traditionally warms up and we are expecting no different for the refurb market, particularly for heavy refurbs where it is often easier to complete the work when the weather is better.
If you want to place more short term lending enquiries or other specialist cases, in June, Brightstar will be running specialist lending workshops that have been designed to help brokers engage with the market in a way that best suits their business.
On Thursday 7th June, we are inviting brokers already involved with specialist lending to discuss their cases directly with experts at the Brightstar clinic, meet some of the biggest specialist lenders in the UK market and learn new ways to upskill and diversify into additional lending areas.
Then, on Thursday 21st June, we are running a workshop for brokers who don’t currently have the time or knowledge to offer specialist solutions to their clients, with information on how they can increase their income potential by referring enquiries to an expert.
The workshops are taking place in partnership with Magellan Homeloans, InterBay Commercial United Trust Bank, Pepper Money, Kensington and TML and will be held at our headquarters in Billericay, Essex, at 10.30am.
Both workshops will cover specialist residential lending, complex buy-to-let, second charge mortgages, short term lending, commercial finance and unsecured loans. If you would like to learn more or secure your place on one of these workshops, click here.
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