CHL Mortgages has introduced a new light refurbishment range aimed at buy-to-let investors looking to enhance their properties. This initiative is significant for landlords seeking to improve their rental offerings while managing financing options effectively.
What is the New Light Refurbishment Range for Buy-to-Let Mortgages?
The new range from CHL Mortgages features two-year fixed rates beginning at 4.40% for single dwelling properties and 4.50% for Houses in Multiple Occupation (HMO) and Multi-Unit Freehold Blocks (MUFB) with up to six bedrooms or units. For those considering longer-term commitments, five-year fixed rates start at 6.11% for single dwellings and 6.21% for HMOs and MUFBs. This range is available to both individual and limited company landlords, with financing options up to 75% loan-to-value (LTV).
Who Can Benefit from This Buy-to-Let Mortgage Offering?
This new range is particularly beneficial for landlords looking to undertake light refurbishments, such as installing new kitchens and bathrooms, replacing fixtures, or converting properties to meet HMO standards. By providing access to tailored financing, CHL Mortgages aims to empower landlords to unlock the potential of their investments.
What This Means for Buy-to-Let Investors
The introduction of this refurbishment range allows buy-to-let investors to finance necessary upgrades without significant upfront costs. With competitive rates and flexible terms, landlords can enhance their properties to attract higher rental yields and meet evolving tenant demands. For more information on rates, check out our buy-to-let mortgage rates.
Frequently asked questions
What types of properties qualify for the light refurbishment range?
The light refurbishment range is available for single dwelling properties, HMOs, and MUFBs with up to six bedrooms or units.
What are the maximum loan-to-value ratios for these products?
Landlords can access financing options up to 75% loan-to-value (LTV) with the new light refurbishment range.