Light Refurbishment
Mark & Joy Dowell No Comments

Property need some light refurbishment?

One way to achieve greater returns from a buy to let investment is to purchase a property in need of light refurbishment, as modernisation can increase both the capital and rental value.

Light refurbishment is defined as improvements to investment property which do not require planning consent, where no Building Regulations application is required and where there is no change to the use and purpose of the premises.

There are many ways of creating value without risky and speculative development and modern bathrooms and kitchens are high on the list of requirements form many prospective tenants. As well as increasing capital and rental value, a refurbished property can also help landlords to attract higher quality tenants and reduce long-term maintenance costs.

So what are my options?

There are numerous options for landlords who want to carry out light refurbishment. Property improvement is a legitimate purpose for most buy to let mortgages and the well developed bridging market offers a variety of choice for landlords who are looking for short term finance or renovating an un-mortgagable property.

 

We deal with lenders that offer a dedicated ‘refurb to let mortgage’ that enables landlords to refurbish investment property to increase rental value and drive capital growth.

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