Help - How to finance a renovation home

Discussion in 'Property Refurbishment / Development' started by Fozz, Apr 16, 2017.

  1. Fozz

    Fozz New Member

    Hi, I am looking for anyone who knows of any mortgage product that is available for buying and renovating an existing property. To make matters a little more difficult I am the owner of a limited company so as far as lenders are concerned I guess they see me as self employed and the business is doing well albeit it is only about 9 months old. On the positive we should have just over 30% cash deposit. Anyone know of any products out there which may be available to us (I have already tried a broker called 'Build Store' but they could not offer any opportunity
    I would have thought with such a high deposit there must be a product out there. Any help would be much appreciated.
     
  2. totallyproperty

    totallyproperty Administrator Staff Member

    Hello and welcome to the forum! :) I can recommend talking to Vantage Finance who offer all types of development finance. You can find more details about them here. If you contact them and say they've been recommended by the Property Forum team I'm sure they will be able to help you.

    Let us know how you get on with your future projects!
     
  3. Gina Lancaster

    Gina Lancaster New Member Forum Partner

    Hi Fozz, Welcome to the forum and thanks to the team for mentioning us. We would love to help you, we work with a large specialist lender panel enabling us to source a competitive deal for you. Please find my details below, I would love to hear from you, Gina [email protected] 07841 016596
     
  4. nmb

    nmb Well-Known Member

    Hi Gina,

    I would be interested to hear what financing structures you recommend for a purchase and renovation. Would it be short term finance to purchase and renovate the property and switching to longer term finance on the higher value when work is done?
     
  5. diyhelp

    diyhelp Active Member

    Hi Fozz

    What kind of profit margin are you expecting after the renovation?
     
  6. Gina Lancaster

    Gina Lancaster New Member Forum Partner

    Hi Fozz, it would be best to talk this through in more detail, can you drop me an email with your contact number on and the best thing is to get one of our Senior underwriters to call and talk you through the best options? My email is [email protected] or 07841 016596
     
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