Property Refurbishment Loans

Refurbishment loans are available on residential properties that require works.

Depending on the amount of works planned will determine the most appropriate way forward.  The price of works, and the extent of works being done will see a transaction classed as either a light or heavy refurbishment.

Loans are usually short-term, with product pricing in line with bridging/property development loans.

These facilities are secured by a single property asset.  Multiple requests would be individually assessed.

On successful completion of the works, properties are either sold or refinanced and retained as a long term investment.  We can of course assist with refinancing.

If the intention is clear at the outset for the property to be refurbished and retained, then we have access to bespoke loan products that allow for both, combining both a refurbishment phase and the long term mortgage following completion of works.

Customers are usually builders who are constructing themselves, or can be project managers/professional developers who have brought in a builder in to complete the scheme on their behalf.  Acceptable customer types include:  Sole Trader, Partnership, Limited Company (Ltd) or Limited Liability Partnership (LLP).

Development experience is always preferred, however first-time developers can also get finance.

We are able to provide finance for the initial property purchase, along with as much as 100% of the refurbishment costs.

Loan terms are usually capped at 12 months and interest rates are quoted monthly.  Pricing can vary dramatically, ranging from 0.5-2% per month.

 

Some examples

Case Studies

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