Property Refurbishment Finance2018-06-15T11:03:17+00:00

Property Refurbishment Finance

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What is Property Refurbishment Finance?

Property refurbishment loans are a form of short-term finance designed for property investors, landlords and property developers who are looking to refurbish, or convert a property before renting it out or selling it.

Essentially, if you purchase a property, extend it and refurbish the interior or exterior the value could increase significantly ready for it to be sold. We can fund all sorts of works, including title splits, conversions and multiple properties on one title.

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Latest Property Refurbishment Loan Offers

View some of the latest property refurbishment loan offers from major lenders.

Product BL0001 - Apply Now
Interest Rate
0.44%
Lender Fee
1-2%
Max LTV
55%
Security Type
Residential
Min-Max Loan
£100,000 – £5,000,000
Max Term
18 Months
Regulated Accepted?
No
Product BL0004 - Apply Now
Interest Rate
0.54%
Lender Fee
1-2%
Max LTV
65%
Security Type
Residential
Min-Max Loan
£100,000 – £5,000,000
Max Term
18 Months
Regulated Accepted?
No
Product BL0005 - Apply Now
Interest Rate
0.59%
Lender Fee
3%
Max LTV
70%
Security Type
Residential
Min-Max Loan
£250,000 – £50,000,000
Max Term
12 Months
Regulated Accepted?
Yes
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Criteria

Below are the main criteria points to consider when taking out a property refurbishment loan.

1Up to 75% Loan to Value (or 100% with additional security).
2Properties in a poor state of repair are accepted.
3Fund up to 100% of your refurbishment costs.
4Rates from 0.44% per month.
5Loans from £25,000 with no maximum loan size.
6Borrow from 1 month up to 24 months.
7Any security considered.
8Interest can be rolled into the loan.
9Loans with no early repayment charges available.
10We will consider any exit route.
11Adverse credit accepted.
12Loans available throughout the UK.

How Much Can I Borrow?

Property refurbishment projects tend to be smaller than full blown developments, although we don’t operate a strict maximum loan.

We can fund property refurbishment in two ways:

1. As a set percentage of the current LTV:

  • Up to 75% LTV
  • Rates from 0.44% per month for light / medium refurbishment
  • Rates from 0.54% per month for heavy refurbishment
  • Lender fee usually 2% of the loan amount

2. As a set percentage of the current LTV PLUS the refurbishment costs:

  • Up to 70% LTV, plus 100% of the build costs
  • Rates from 0.85%
  • Lender fee usually 2% of the loan amount

Different lenders will consider different loan amounts. Applications are generally written on a case by case basis depending on the demand for the completed product, the experience of the applicant and the level of works involved.

How Long Does Property Refurbishment Finance Take to Complete?

We can complete property refurbishment loans in 5 days – 2 weeks. As there is extra work involved in understanding the planned refurbishment works, it is more common for property refurbishment applications to take 10 – 14 days.

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