I recently spoke to my mortgage advisor and in a throw away question asked about buying a “renovation project” for fast turn around. She said that few mortgage companies will now lend against houses that haven’t been lived in for at least 6 months and renovations can fall into the same category as new builds where they require a higher deposit.

With second homes now liable for additional stamp duty which will be thousands extra. I wonder if there is any profit in renovating houses if your not planning to live in them now? I may be missing a trick.

  • Post a comment
    You must be logged in to comment. Log in