Kent Reliance launches BTL refurb at 4.49pc

Landlords are able to draw up to 75% of the value of the improved property with no limit up to the maximum loan size.

Loans, available on either a repayment or interest only basis, will be made with a maximum 75% of initial value and drawdown will be based a revaluation after four months.

John Eastgate, sales and marketing director, said: “We are very excited to add this product to our competitive buy-to-let range. It is ideal for professional landlords looking to grow their portfolio and maximise income from properties with development potential.

“Regular investors can improve property with the confidence that they can unlock that investment and use it for growing their portfolio further.”

The product, which is available through selected Kent Reliance intermediaries, has a fee of 2% and early repayment charges of 4% in year one and 3% in year two.

The minimum loan size is £100,000 and the maximum loan is £1,000,000.

Works must be completed within four months of the initial advance.