62% of landlords surveyed by Shawbrook Bank have undertaken a refurbishment to one of their rental properties in the last 12 months, with 18% renovating more than one rental property.

Shawbrook’s Changing Face of Buy to Let report found that landlords also used their own finances to pay for renovations to their rental properties, with 60% utilising their personal savings or investments, and 12% using a recent inheritance or windfall. A further 12% used a second charge mortgage in order to finance the changes they wished to make to their rental properties.

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