Refurbishment mortgage offered to homeowners

Intelligent Finance has teamed up with BuildStore to offer a building refurbishment mortgage to homeowners.

BuildStore, the UK''s leading specialist in the self-building and renovation market, will be offering the mortgage under its BuildLoan brand.

The product opens new possibilities for homeowners who usually cannot secure money from lenders until building work has been completed and valued.

BuildLoan will lend 95 per cent of the cost of the building improvements, releasing the money in steps at the start of each stage of the refurbishment.

Brian Ewing, head of intermediary sales at Intelligent Finance said: "We are delighted to have teamed up with such an innovator in the renovation and self build market as BuildStore.

"With more and more homeowners looking to refurbish or extend their properties, we are keen to offer them a competitive offset deal which offers both long-term value and flexibility."

The package from BuildLoan is unique in providing homeowners with positive cash-flow as building refurbishment is executed.

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