Buy to let mortgages are a type of loan for buying a property you intend to rent out to tenants. You would usually be letting for a profit, or at least to break even. Most buy-to-let mortgages in the UK are interest-only, with the landlord paying the monthly interest using the rental income.
A light refurbishment usually refers to work to the property that are not of a structural nature and where there is no planning required or change of use where heavy refurbishment generally consists of major structural work such as an extension or conversion from commercial to residential and where there are substantial cost of works.
The simple answer is, yes. If we assume that the property is your residential home and you have a residential mortgage, the majority of mortgage terms will require you to obtain a 'consent to let' before you can let it.
The majority of HMO lenders will lend on the vacant possession value of the property (or bricks and mortar), despite the rental income received from letting to multiple tenants.
