Refurbishment Buy To Let.

Bridging finance for property refurbishments and buy to let mortgages are finance options commonly heard in the property world with many lenders offering both as individual products. However, there are some lenders that are offering a rather attractive product which is a refurbishment buy to let loan.

A refurbishment buy to let loan offers the flexibility of bridging finance to fund a refurbishment project as well as providing the surety of an exit onto a buy to let mortgage at the time of application. This is provided there’s no change in circumstances and the property meets the expected valuation following refurbishment.

There are a choice of exits depending on the type of refurbishment works. Plus, the exit product chosen will remain available whilst the buy to let mortgage offer is valid, allowing you the security of knowing what your monthly repayments will be once the refurbishment work is completed.

So whether you’re fitting a new kitchen or bathroom, looking to improve the energy efficiency of a property or refurbishing a property that already has a high EPC rating, this product really could tick all boxes.

During the refurbishment phase you can choose either a serviced or retained interest basis, depending on whether you wish to make monthly payments whilst works are being completed.

You only need to complete one application form and you benefit from one valuer for both the bridging finance and the buy to let exit and one conveyancer to help minimise costs.

Borrowers must be confident they can complete any refurbishment work within the buy to let offer validity period which is six months from the initial valuation.

Properties where the proposed works would be classed as heavy refurbishment are not currently accepted and some lenders will not finance the cost of works.

If you have any questions regarding any of the above information, please don’t hesitate to contact me to discuss further.

Tom Simpson

Director, Devon & Cornwall

Blaise Commercial Finance

📞: +44 (0) 7956926314




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