Fantastic News! The Refurb Bridge to Let (buy to let) Mortgage is Back

Let's start with that fantastic news. I had an urgent message from my (really good) mortgage broker last week telling me the Refurb Bridge to Let mortgage product is back, at last. This was pulled way back, around March (from memory) and I wondered if, now the banks are being a little cautious, whether we'd ever see it again. It's such a good product because it allows us to arrange our finance on a refurb project with confidence. Many of us want to buy our buy to let properties a little run-down and do a refurb (if you're wondering why, please see my thoughts on BRRs below) but many Buy to Let lenders DON'T like lending on properties that they consider are uninhabitable or un-lettable (don't get me started, this is such a subjective topic that catches many buyers and potential borrowers out). The usual way around this is to buy using a Bridge or by using cash, do the refurb and THEN apply for a Buy to Let mortgage. But getting the figures right, and the Buy to Let mortgage, aren't forgone conclusions. A lot can go wrong and make the process stressful and risky. But the Refurb Bridge to Let Mortgage product eradicates a lot of the stress and the risk, and makes the process so much easier. Because the Bridge, and the Buy to Let, are combined in the SAME product. So if you get the Bridge you KNOW for sure that You'll get the buy to let, and you'll know how much the Buy to Let Mortgage will be before you even start the refurb! How good is that? And despite the name, it's not just for Buy to Lets. They'll also do HMOs. Here's the main terms: The Bridge Up to 65% LTV Minimum valuation £100,000 for buy to lets and HMOs (£250,000 in London) Minimum Loan £50,000, Maximum Loan £1m Interest from 0.54% per month- by the way, for a Bridge, that's cheap - Bridging loans can cost up to 1.5% per month! Buy to Let Up to 75% LTV Minimum valuation £50,000, London £150,000 (HMO £1000,000 with £250,000 in London) Minimum Loan £40,000, Maximum Loan £3m Interest from 3.14% per annum. If you'd like more details I'll be happy to put you in touch with my really good mortgage broker, who can tell you everything and can help you get your finance! So please email me thepropertyteacher@gmail.com And please watch the video, it's only a little over 3 mins. Here's to Successful Property investing Peter Peter Jones (ex) Chartered Surveyor, author and property investor http://www.ThePropertyTeacher.co.uk PS. By the way, I've rewritten and updated my best-selling e-book, The Successful Property Investor's Strategy Workshop, which is an account of how I put together my multi-property portfolio, starting from scratch and with no money of my own, and how you can do the same. For more details please go to: http://www.ThePropertyTeacher.co.uk/the-successful-property-investors-strategy-workshop