BRRR schedule of works
A BRRR deal lives or dies on the refinance. Cost your refurb below, then build the full schedule and appraisal — including the refinance loan, money left in and rental-cover check that decide whether you pull your capital back out.
How to make a BRRR stack up
- 1Cost the works to add value
Spec the refurb to lift the post-works valuation (GDV), not just to make it lettable. A higher valuation is what lets the refinance repay your capital.
- 2Model the refinance
Set a refinance LTV (often 75%) against the GDV. The refinance loan repays the bridge; what's left is your money left in.
- 3Check rental cover
Lenders stress rental income against mortgage interest (an ICR/DSCR test). Make sure projected rent covers the refinance comfortably — typically 125%+.
- 4Aim to recycle your capital
The BRRR goal is little or no money left in. If too much capital is stuck, revisit the purchase price, the spec or the GDV assumption.
BRRR investors get caught out when the schedule of works and the refinance are treated as two separate exercises. They’re not. The spec you choose drives the GDV; the GDV drives the refinance loan; the refinance loan drives how much capital you get back. ScopeWise keeps all of it on one screen, so when you add an en-suite or upgrade the kitchen you see immediately what it does to your money left in and your rental cover.
Frequently asked questions
What is a BRRR schedule of works?+
It's a costed, phased schedule of refurbishment works prepared for a Buy-Refurbish-Refinance-Rent deal, structured so the bridging lender will fund the works and the figures support the later refinance valuation. ScopeWise adds the refinance maths — loan, money left in and rental cover — alongside the schedule.
How much money will I leave in?+
Money left in = your total all-in cost minus the refinance loan (refinance LTV × GDV). If the refinance loan exceeds your costs you recycle all your capital — the ideal BRRR. The appraisal calculates this live as you edit the schedule.
What rental cover do lenders want?+
Buy-to-let lenders typically apply an interest cover ratio (ICR) of around 125%–145% at a stressed rate. HMOs are often assessed on the room income, which can give strong cover. Always check the specific lender's stress test.
Does the 6-month rule still apply?+
Many lenders apply day-one remortgage restrictions in the first 6 months of ownership, though an increasing number lend on the uplifted value sooner where significant works have been done. Confirm the refinance lender's policy before committing.
Related tools & guides
Cost figures shown are indicative estimates, not quotations. You are responsible for verifying all costs (obtain contractor quotes) and any figures submitted to a lender. ScopeWise is a documentation tool, not financial, tax, structural or planning advice. HMO compliance prompts are guidance only — confirm requirements with your local council, as standards and licensing vary by authority.