Refurbishment Bridging Finance products are available which can provide as much as 80% Loan to Value "net", with interest rolled up.
Up to 80% LTV net, on both "light" and "heavy" refurbishment projects.
Subject to a maximum of 75% of the "finished" value (including interest).
Lending against Open Market Value (NOT 180 Day!).
Borrower to fund the cost of works.
2.25% Arrangement Fee.
Interest at 0.85% per month.
No Exit Fees (subject to a minimum 3 months term).
No additonal broker fees.
Minimum loan £200k.
Maximum loan size £10m.
Residential properties in England & Wales only!
"Light" refurbishment projects are those which do not require planning consent.
"Heavy" refurbishment projects would require planning consent, and can include renovations & conversions with no cap on the number of units to be created. Suitable for multi-unit apartment blocks and HMO's and other schemes requiring heavier works.
Can consider first-timers with a strong enough contractor/ professional team.
Title insurance can be utilised & dual legal representation offered, for swift completions.
Can also provide the Buy to Let exit "in house", if required.
It is not uncommon for us to be able to source options which other brokers do not have access to, so feel free to put our services to the test today.
