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Shawbrook HMO Refurbishment Product

This product allows existing HMO landlords to purchase/refinance the property, complete the works and then release the additional capital value that you have created following the refurbishment without any further arrangement fees.
They will lend up to 75% of the after-works value with a retention to 75% of the current value/purchase price. The retention is released once works are completed and a new valuation is provided with confirmation that the property is tenanted.
You have the option of either a 3 or a 5 year term and can have this on an interest only basis or can choose a repayment  option over the term of the loan.
You can release the funds as and when the work is done, so no 6 month minimum. Also you have the security of having a longer term deal and not needing to refinance to access any increase in value.

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Searchlight Finance Limited is registered in England and Wales No.07929050 Searchlight Finance Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (http://www.fca.org.uk/register) under reference 743220. The FCA do not regulate Business Buy to Let Mortgages or most Commercial Mortgages and Bridging Finance. ICO Number Z3109319. Your property may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it.

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