One in eight landlords are unaware of what type of finance is available to them for refurbishment schemes, according to the latest report
InterBay Commercial revealed that 34% of landlords who had undertaken a refurbishment recently used their personal savings to finance their projects.
Other highlights from the report included:
“Refurbishments can be a great way for landlords to both increase the attractiveness of their properties and its value, but it’s concerning that so many landlords are unaware of their finance options when undertaking such a project,” said Darrell Walker, head of sales at InterBay Commercial (pictured above).
“...With better understanding of the options at their disposal, landlords can choose from a variety of options from remortgaging to a bridging loan — making a refurbishment much more feasible and likely.
“Indeed, plugging the knowledge gap will not only benefit the landlord, but also the end tenant, too.”
