Is the property not mortgageable due to its condition? Do you need to do a full refurbishment before selling the property? Then we can help.
It may need decoration, a new bathroom, kitchen, suffer from damp or needs rewiring. Do you want to add an extension or convert the basement or loft? Then we have lenders for you.
Do you want to convert single units to multiple units, commercial to residential, a single let to an HMO or have a new build that requires completion? We will guide you through the various options available to you whilst you build your portfolio.
POINTS TO CONSIDER WHEN LOOKING FOR REFURBISHMENT FINANCE
- What level of refurbishment will the lender accept;
- Some work off a percentage of costs and others the work involved;
- A light refurbishment is non-structural work;
- Heavy refurbishment covers structural works, where planning permission/building regulations are required;
- Don’t just focus on the interest rate. Add all the costs up to compare one lender to another;
- If using a broker ensure they fully understand bridging and don’t go through a third party. This will increase the costs and be slower;
- What happens if you are late when repaying the loan? Some lenders are flexible others will be in court to repossess before you know it.
- 1 -24 months;
- Up to 75% of purchase price;
- Up to 100% finance with additional security;
- Special products for HMO conversions, and change of use from Commercial to Residential;
- Choice of daily or monthly interest rates;
- Fee-free options;