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Buy To Let Mortgage For Refurbishment

If you wish to purchase a property that requires refurbishment before renting out or you have an existing property that needs some light refurbishment, you may need a buy to let mortgage.

Why use Fair Mortgages

Fair Mortgages can provide a first class service, if you are looking for a buy to let mortgage broker service.

Special features of what our broker service offers include:

  • Rental Income Requirements - What lenders now require on rental income - we can help you secure a buy to let refurbishment mortgage and get you through the lender criteria maze

  • Whole of Market Buy to Let Broker - We deal with most UK buy to let lenders that are prepared to provide buy to let mortgages for refurbishment including private banks, specialist lenders and wealth managers

  • Buy to Let Rates – Access to leading buy to let market rates

  • Exclusives - Access to exclusive buy to let mortgage deals not available on the high street

  • Our BTL Expertise –  Expert help for landlords


Right Bullets

The majority of traditional lenders are reluctant to provide a buy to let mortgage for a property that is not ready to let out. Some lenders may even insist on the property to have tenants lined up before granting a buy to let mortgage.

In reality, it is rare that a property is completely ready to let out and most of the time some refurbishment work is required. Not only can refurbishment get a property ready to let out, but it can also add value to a property or even increase the overall potential rental yield.

There are some lenders who are prepared to provide significant amounts of finance for those who need funding to carry out refurbishment work on a buy to let property. Depending on the lender, it is possible to secure up to 70% Loan to Value and even up to 75% Gross Development Value.

However, most specialist lenders will only release the funds required after the work has been completed. In addition, these specialist lenders usually place a deadline for when the work must be finished.


A landlord found a £150,000 flat, which looked like a good property for letting. However, it required a new bathroom and kitchen. The landlord had £45,000 for a deposit but needed £15,000 to complete the refurbishment.

Through their broker, the landlord was able to secure £105,000 (70% of the property’s value) to purchase the property. Upon completion of the refurbishment, a surveyor valued the property at £180,000 and the landlord received an additional £21,000 (making his full mortgage 75% of the GDV).

This buy to let mortgage allowed the landlord to purchase the flat, complete the necessary refurbishment and increase the overall value of their buy to let property.

If you need a buy to let mortgage for a property that requires refurbishment, it is advisable to contact a professional broker.  A professional broker may be able to find a buy to let mortgage that is not available on the high street and negotiate market leading rates with more favourable terms.

Next Steps

As a mortgage broker, Fair Mortgages can identify the buy to let refurbishment mortgages available to you and arrange the best financial solution for your buy to let needs.

Fill in the online contact form on this website to request a call back from one of our advisers and receive a free initial consultation. Alternatively you can call us directly on 0117 403 4474

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