Category: Property

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What is a Buy to Let Mortgage?

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.
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What is the difference between light and heavy refurbishment for loan purposes?

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.
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How might my HMO be valued by a lender?

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.
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