New Product - Refurb loan for buy-to-let clients.

Financial Adviser,  April, 2006  

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CAPITAL Home Loans has launched a light refurbishment mortgage for buy-to-let borrowers.

The lender believes it has created a product that caters for a niche market. It is targeted at borrowers who wish to build up the value of their portfolio, but cannot provide an immediate rental income because the property is in need of refurbishment.

The mortgage has a maximum 85 per cent loan-to-value ratio and the rate is fixed at bank base rate plus 1.15 percentage points for the life of the loan. Up to 20 per cent a year is permitted in overpayment; otherwise an early redemption ...

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