Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Buy to Let renovation and equity release

Options
  • 28-06-2024 4:11pm
    #1
    DonnieCorko
    Registered Users Posts: 248 ✭✭


    Hi there,

    I am considering a BTL that requires renovation, and using the Vacant property grant to fund some of it. I am wondering however about equity release on the property post-renovation.

    I believe you can get around 70% of the increase in value released, but is there a time period you would need to wait before applying for this equity release?

    Thanks



Comments

  • Options
    #2
    Gmaximum
    Registered Users Posts: 378 ✭✭Gmaximum


    attempted to get an equity release on my own rental property last year to fund building work on the family home. BOI was a flat out no even at 40% LTV. Met a broker too and wasn’t confident any of the banks would do it

    am sale agreed now on the property and am absolutely delighted to be getting out of it



  • Options
    #3
    DonnieCorko
    Registered Users Posts: 248 ✭✭DonnieCorko


    https://www.boards.ie/discussion/comment/122317406#Comment_122317406

    Thanks for the reply. That is what I am seeing alright online. I did see that Finance Ireland and Diolisk say that they offer it though. Did you try either of them?



  • Options
    #4
    Gmaximum
    Registered Users Posts: 378 ✭✭Gmaximum


    no, decided to sell. I fell into the accidental landlord category and took it as the sign to get out.



Advertisement