A Buy to Let Refurbishment Product 19.11.09

Author: David Whittaker Posted on: 19 November 2009

Another sign of an improving Buy to Let mortgages market here with our new refurbishment product. The lender will only take on properties where a light refurbishment would apply...... so new kitchen, bathroom, re-decorate etc to a maximum release figure of £25,000.

The lender will release 70% of purchase price on Day 1 but the offer will allow for a figure up to 70% of end value but not to exceed the initial 70% + £25,000 and subject to the rent cover generated by the rent at the new look rate. The valuer will go back in and re-inspect for £100 to allow release.

A wide range of Buy to Let variable rates and Buy to Let fixed rates including a 1 year tracker product (currently at 4.04%) with no early redemption penalty after the first 12 months. This should prove attractive to those looking to add value and realsie it within a short term.

So another important step in the right direction.... call us on 0845 3456788 for more info.