Trusted Mortgage Advice | Neil Soundy Financial Services - BUY TO LET LIGHT REFURBISHMENT MORTGAGES FOR LANDLORDS

BUY TO LET LIGHT REFURBISHMENT MORTGAGES FOR LANDLORDS

THESE MORTGAGES GIVES THE LANDLORD THE OPPORTUNITY FOR INCREASED EQUITY & HIGHER RENTAL INCOME

If a property needs refurbishment, it’s common sense to get the work done. Sometimes you need to make improvements before the property is suitable for tenants; sometimes you know that certain minor refurbishments may add value to your property investment, or increase the rental yield. So you need a mortgage deal that allows you to go ahead with the necessary work

With a Light Refurbishment mortgage, it may be possible to take advantage of an investment opportunity. If a property needs modernisation, you can go ahead knowing that the money spent on refurbishments could be replenished when the work is completed. Eg New kitchen /bathroom etc

There is a restricted choice of lenders who are willing to lend on this basis. Maximum lending is 75% loan to value.

Below we have highlighted a few features of each lender:-


 Aldermore Commercial 

  • Available to 70% LTV of the post works value 
  • 65% LTV of the day one value 
  • Rates from 5% over 3 month Libor, 1% loading during refurb period 
  • Interest only for term available

Saffron Building Society

  • Available to 75% LTV of the post works value 
  • 75% LTV of the day one value 
  • 5.89% - 2 Yr variable rate + 0.50% with 2 Yr ERC  
  • Does not need to have a kitchen and bathroom 

Shawbrook Bank

  • Available to 70% of the post works value 
  • 70% LTV of the day one value
  • Rates from 5.45% over 3 month Libor
  • Interest only for the term available

Note. All cases are subject to a full lenders underwrite and assessment.

 

Request Call Back

We can discuss your current situation and the options available to you before arranging a free no-obligation meeting.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage

 

Neil Soundy Financial Services Ltd
66 Albany Road, Cardiff CF24 3RR

Tel: 02921 159 466 | 020 3011 0662

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