For many landlords, spotting a property with improvement potential is often the easy part. The challenge comes in funding the journey from acquisition to a finished, lettable asset. Whether it's a tired rental in need of modernisation, a former owner-occupied property requiring updating, or a purchase where improvements are needed before tenants can move in, the traditional route has typically involved multiple stages of finance. A landlord purchases the property using short-term funding, completes the refurbishment works, and then refinances onto a longer-term buy-to-let mortgage once the property is ready to let. It's a process that has become familiar across the market, but that doesn't necessarily mean it's efficient. Along the way there can be multiple applications, repeated underwriting, valuation costs, legal fees and the ongoing pressure of managing timescales. Borrowers also face the uncertainty that can come with securing an exit route, particularly if market conditions change between the initial purchase and the eventual refinance. For landlords focused on straightforward improvement projects rather than extensive redevelopment, that level of complexity can feel disproportionate to what they're actually trying to achieve. In reality, many landlords simply want to purchase a property, carry out sensible refurbishment works, and get it producing rental income as quickly as possible. They don’t necessarily require specialist development finance or a complex borrowing structure. They simply need a funding solution that reflects the nature of the project. That is the thinking behind CHL Mortgages' new refurbishment buy-to-let proposition which provides landlords with a way to fund both the property and the improvement works through a single mortgage solution. Rather than arranging shortterm funding before switching to a longerterm mortgage later, borrowers can complete the entire journey under one roof. Available up to 75% loan to value, the product enables landlords to purchase or remortgage a property while also accessing funds for eligible refurbishment works. The Lender Partner Article No Need to Bridge. No Need to Switch. 12
RkJQdWJsaXNoZXIy MjI4MjU4NQ==