We can assist experienced or first time landlords looking to purchase run down properties in need of refurbishment and modernisation. Properties which are not deemed as ‘habitable’ by a valuer will not usually be able to be purchased using a traditional buy to let mortgage.
We can provide short term lending solutions to complete the purchase with additional funds to do the works to the property and bring it back to a habitable state. A buy to let mortgage or sale of the property is usually how the finance is repaid.
- Clients can achieve up to 80% LTV for properties needing light refurbishment and 70% for heavy refurbishment
- Typically, rates can start in the region of mid 0.44% pm (for 55% LTV), depending on the client/property profile
- The maximum term available is 18 months
- For non-regulated (investment purposes) cases, we can arrange for the interest to be retained, rolled up, serviced or a combination of these
- Exit solutions available, please ask