A new range of products that offers short -term financing for landlords who have to perform on renovation has been launched by Keystone Property Finance.
The ‘makeover of’ reach ‘has been created to meet the high demand for finances to enable landlords to carry out’ light ‘works according to their properties.
After concluding these short -term agreements, landlords will be given the option to switch to a long -term course of the acceleration of the long -term once the renovation work has been concluded.
The makeover to leave the loan, has a maximum duration of six months, a minimum loan of £ 100,000 and enables landlords to carry out works such as installing a new kitchen or converting a standard real estate into Houses in Multiple Occupation (HMO) with a maximum of six passengers.
Keystone said it also offered streamlined insurance offering for the light renovation part of the application to help accelerate the process. It also uses title insurance to speed up the legal process and to offer extra protection to the buyer.
The rates on Keystone’s renovation to start the reach at 0.85% and products are offered up to 70% LTV. Borrowers are also given the option to maintain interest on the loan of the light renovation or to roll up and pay for it at Exit.
You have access to this product via your mortgage broker.
Elise Coole, managing director of Keystone Property Finance, said: “We are delighted to enter into a new loan area with the launch of our very first renovation to leave the reach. The demand for this type of finance is increasing because more landlords seem to raise the yields by raising properties by raising property.
“Brokers told us that for exactly this reason they needed a product. We built one. We designed the range to be quick, flexible and easy-with-streamlined insurance, the choice to roll on or a clear path to long-term financing.
“With the addition of our updated fixed rate range, landlords can also benefit from further borrowing when they reconsider the loan of the light they have with us, while they benefit from a smooth, end-to-end journey.”
When the renovation work is almost completed, brokers can apply on behalf of a fixed rate of their customers from the reach of Keystone’s refurbishment, which has the rates from 4.69%. Or they can easily exchange the steps to leave the loan.
Creditors who opt for a product from the Keystone refurbishment can unlock the fixed tariff range if they wish and qualify for a free revaluation.