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Buy to Let renovation and equity release

  • 28-06-2024 3:11pm
    #1
    DonnieCorko
    Registered Users, Registered Users 2 Posts: 256 ✭✭


    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

  • #2
    Gmaximum
    Registered Users, Registered Users 2 Posts: 382 ✭✭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



  • #3
    DonnieCorko
    Registered Users, Registered Users 2 Posts: 256 ✭✭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?



  • #4
    Gmaximum
    Registered Users, Registered Users 2 Posts: 382 ✭✭Gmaximum


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



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