80% & 85% Loan to Value Property Refurbishment Loans

On the back of Shawbrook Bank re-launching their 85% loan to value (LTV) light refurbishment mortgage. Castle Trust Bank has launched an 80% loan to value refurbishment finance products.

Both products are excellent news for property investors aiming to take run-down or derelict properties that need to be modernised and post works are either sold to make a profit or refinanced with a buy-to-let mortgage.

80% and 85% LTV Light Refurbishment Mortgages

These 80% and 85% LTV light refurbishment mortgages allow investors to borrow more than the previous standard of a maximum of 75% loan to value which was generally the maximum in the market.

A quick summary of these 80% and 85%  products are:

• Both allow light refurbishment works to a property
• Both allow properties to be converted to Houses of multiple occupation (HMO)
• Shawbrook 85% LTV and Castle Trust 80% LTV (proof of remaining deposit and funds for the works is required)
• Properties requiring planning permission are not eligible (although we have access to other property refurbishment loan solutions for these cases)
• Castle Trust light refurbishment mortgage does allow for  some structural works to be carried out

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