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Renovation Mortgage Call 0117 313 6058

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 0.92%
Rate type: Fixed 27 months
Monthly cost: £559.89 per month
Max LTV: 60%
Product fee: £999
Overall cost for comparison: 3.2% APRC
Barclays Mortgage logo 0.92% Fixed 27 months 3.2% APRC 60% £999 £559.89 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 0.92%
Rate type: Fixed 27 months
Monthly cost: £559.89 per month
Max LTV: 60%
Product fee: £995
Overall cost for comparison: 3.2% APRC
NatWest logo 0.92% Fixed 27 months 3.2% APRC 60% £995 £250 cashback £559.89 per month get quotes Call direct0800 068 8567
Initial rate: 0.92%
Rate type: Fixed 27 months
Monthly cost: £559.89 per month
Max LTV: 60%
Product fee: £995
Overall cost for comparison: 3.2% APRC
NatWest Int Sols logo 0.92% Fixed 27 months 3.2% APRC 60% £995 £250 cashback £559.89 per month get quotes Call us0117 403 4474 Broker Only Deal
Initial rate: 0.92%
Rate type: Fixed 27 months
Monthly cost: £559.89 per month
Max LTV: 60%
Product fee: £995
Overall cost for comparison: 3.2% APRC
Royal Bank of Scotland logo 0.92% Fixed 27 months 3.2% APRC 60% £995 £250 cashback £559.89 per month get quotes Call direct0800 068 7706
Initial rate: 0.94%
Rate type: Fixed 27 months
Monthly cost: £561.24 per month
Max LTV: 60%
Product fee: £999
Overall cost for comparison: 3.2% APRC
HSBC logo 0.94% Fixed 27 months 3.2% APRC 60% £999 £561.24 per month get quotes Call us0117 403 4474 More details
Initial rate: 0.94%
Rate type: Fixed 24 months
Monthly cost: £561.24 per month
Max LTV: 60%
Product fee: £999
Overall cost for comparison: 3.3% APRC
Nationwide BS logo 0.94% Fixed 24 months 3.3% APRC 60% £999 £561.24 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 0.94%
Rate type: Fixed 27 months
Monthly cost: £561.24 per month
Max LTV: 60%
Product fee: £995
Overall cost for comparison: 3.2% APRC
NatWest logo 0.94% Fixed 27 months 3.2% APRC 60% £995 £561.24 per month get quotes Call direct0800 068 8567
Initial rate: 0.94%
Rate type: Fixed 27 months
Monthly cost: £561.24 per month
Max LTV: 60%
Product fee: £995
Overall cost for comparison: 3.2% APRC
NatWest Int Sols logo 0.94% Fixed 27 months 3.2% APRC 60% £995 £200 cashback £561.24 per month get quotes Call us0117 403 4474 Broker Only Deal
Initial rate: 0.94%
Rate type: Fixed 27 months
Monthly cost: £561.24 per month
Max LTV: 60%
Product fee: £995
Overall cost for comparison: 3.2% APRC
Royal Bank of Scotland logo 0.94% Fixed 27 months 3.2% APRC 60% £995 £561.24 per month get quotes Call direct0800 068 7706
Initial rate: 0.94%
Rate type: Fixed 27 months
Monthly cost: £561.24 per month
Max LTV: 60%
Product fee: £995
Overall cost for comparison: 3.2% APRC
TSB logo 0.94% Fixed 27 months 3.2% APRC 60% £995 £561.24 per month get quotes Call us0117 403 4474 More details
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Mortgages for renovation

Our Mortgage Service For Renovating Properties

We are seeing large demand for people looking to buy and renovate property either to upgrade or to convert usage for investment return purposes.

Renovation-finance

We can help you if you are:

  • Looking to buy an existing property and require funding for the purchase and the renovation costs
  • Buying uninhabitable property that is not wind and watertight
  • Need to move quickly to secure the property
  • Require exit finance e.g. a long term buy to let or HMO mortgage to replace the renovation finance.

Why choose our service?

Fair Mortgages can provide you with a first class mortgage service if you are looking to raise finance to renovate a property. 

Special features of what we offer include:

  • Finance from £50,000
  • Market leading rates
  • Finance for purchase
  • Finance for renovation costs (up to 100%)
  • Fast turnaround - call us if you need to move fast!
  • Less than perfect credit history? - We have lenders who will take into account previous defaults and missed payments 
  • UK coverage - We have options for property finance across the UK

To investigate your options for raising finance for a renovation project call our specialist team on 0117 313 6058 or fill in our call back form.

How are mortgages for renovation different?

Mortgages for renovation differ from standard residential mortgage deals in that they will take into consideration whether the property you want to renovate is currently in a habitable or uninhabitable state.

A habitable property is considered to be one that has a weatherproof roof and walls, plumbing, and other basic features that would allow a person to live in it at the time of purchase.

For these type of renovation properties lenders are more willing to offer high loan to value mortgage deals. However they may withhold some funds until essential repairs – for example, minor roofing repairs - are completed.

If the property you want to renovate is currently uninhabitable – for instance, a disused barn or industrial building, or a residential property that is serious disrepair and needs modernisation – then getting a high loan to value mortgage could prove a little more difficult.

Renovation Mortgage Case Study:

The Scenario:

The client, a property developer, wanted to purchase a property and sell it on. In order to attract the sort of asking price the client wanted, the property required significant refurbishment work.

The client did not have enough finance to fund the purchase and refurbishment.

After approaching unsuccessfully a high street bank for the finance the client came to us for help.

Our Solution:

Through our strong relationship with specialist lenders, we sourced a short-term finance deal for our client that helped them achieve their goals.

We were able to quickly raise £262,000 to contribute towards the purchase of the property. We then secured 100% of the refurbishment costs, which came to £88,000.

To minimise the cost for our client, we were able to negotiate with the lender and secure a light refurbishment interest rate.

The loan was secured and received swiftly. This allowed our client to finish the purchase and begin the heavy refurbishment of the property without delay.

The client sold the property and repaid the short-term finance with the proceeds of the sale, making a healthy return on investment.

Getting the best mortgages for renovation

Speak to our specialist team to help you find the right mortgage finance option for you. 

Call our Mortgage and Loan Team on 0117 313 6058 or request a Callback to discuss your requirements.

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Call 0117 313 6058 to discuss your finance requirements for a renovation project - or request a Callback

Call us for a FREE initial conversation on 0117 313 6058 about your renovation loan rates options or request a callback.

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