Hi,

We are thinking about a property that is is need of a lot of renovations.

We can put down about 15-20% of the total price (including some rough estimate of the needed renovations) and our income would be probably ok for the total sum (about 2.5-3 incomes). Are there any banks that would lend us more than what we pay for the property?

hello

Try one of the self-build magazines, Like Home building and renovating. Perhaps you may get help from a specialist self-build broker like Buildstore. They arrange stage payment mortgages for renovation properties - as you complete work they make a further advance in 4 stages as the property value increases. I've no connection with them but had a mortgage from them in the past. Careful with the budget!

All the best

mumbler