0845 269 4965 / Direct: 020 3236 1003
Refurbishment Development Finance
Refurbishment Development Finance is available for new and experienced investors. For a quote for a specific property or to for further information on the most suitable product we can offer, please contact us.
General product guide:
Loan size £500,000 – £20m +
- Up to 60 – 75% of costs
- 2% to 5.5% margin per annum over Base Rate or Libor
Loan size £250,000 – £500,000
- 7% – 10% per annum
Light refurbishment products
Product 1)
- Up to 65% loan to value on day one (lower of purchase price or valuation)
- A retention on the advance to take the total advance up to 70% of the completed value
- An arrangement fee of 2.5%
- Rate: 5.5% variable (Interest margin of 5%, plus 1% during the refurbishment phase)
- This product is a Refurbishment – Buy To Let product and carries early repayment charges for 5 years
- Retention to be released upon satisfactory re-inspection by the valuer to confirm that the property is in a condition suitable for letting
- This product is designed for properties that require light refurbishment therefore the property must be habitable at day one
Product 2)
- 1 Year fixed rate at 4.49%
- Up to 70% Loan To Value day one
- Up to 70% of new value on completion of works
- 3.5% arrangement fee
- For Purchase and Remortgage
Bridging Loan Refurbishment Product
- Up to 70% of purchase price and 70% of refurbishment costs
- Term: 1 – 18 months
- Rate 1.35% per month
- 2% arrangement fee
- Loan Size: £50,000 – £15,000,000
- No Early Repayment charge
- Poor Credit considered
