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BTL mortgage with extra borrowing for home improvement?


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Hello!

I was just wondering if BTL mortgage lenders sometimes offer extra borrowing or a further advance for improvement on the property? I understand that BTL lenders don't accept mortgage applications when the property is inhabitable, so the extra borrowing would only be for cosmetic upgrades.

If anyone has any other experiences of using other finance like secured loans that was used to 'spruce up' their new BTL that would be appreciated!

Thank you!

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Hi Natalie,

Yes, lenders offer further advance for home improvement.

If the existing BTL lender can't offer you a further advance based on the rent achieved and/or your personal income/affordability situation, you may indeed be able still take a secured loan, i.e. a second charge mortgage from another lender.

A broker will be able to help you with this as well.

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