Select Page

Property Refurbishment Finance

Light Refurbishment

Light Refurbishment Requrements

Acquisition & refinance for light refurbishment and renovation projects.

Residential investment
Refurb to sell
Refurb to rent
£30k to £5m
1 Day to 18 Mths refurb
Term mortgages
Bridging facilities
Refinance within 6 mths

i

Light Refurbishment Details

Light refurbishment mortgage products allow purchase of residential property needing repair works and renovation. Conventional lenders will not offer mortgages against property that are not immediately habitable or are in poor condition such that it cannot be let or achieve the market rent.

The range light refurb products offer a retention-free funding solution for landlords and property investors wishing to purchase property requiring refurbishment prior to renting or resale.

Properties requiring modernisation, decorative attention and general renovation such as replacement of kitchen or bathroom fixtures, may not be immediately habitable upon purchase yet offer property buyers opportunity for a profitable investment.

Often refurb properties can be renovated and turned around in just a few months to either retain as a rental property or resale for capital gain.

Light refurbishment mortgages offer lending at pre-refurb without retention of funds.

Z

Extent of Works for Light Refurbishment

Loft conversions are permitted in some cases but generally non-structural. and work including:

Kitchen & bathroom refit
Decorative attention
Electrical upgrades, rewire.
Renewal of floor coverings
Central heating – update or replace
Specialist remedial work – timber/damp

Light Refurbishment and Renovation Finance Projects

Typically non-structural work:

Auction properties
Reposessions
HMO Refurbs
Buy to let houses
Buy to let flats
Multi-unit property
Non-leting condition

Pre-Work for Light Refurbishment

Day one loan to value

Borrow up to 80% of the purchase price or pre-work day-one value.

=

After Works for Light Refurbishment

Improved value LTV After the renovation work has completed borrowing can be increased to a maximum of 85% of the finished property value even within 6 months of purchase.

Medium Refurbishment

Medium Refurbishment Requirements

Acquisition & refinance for light refurbishment and renovation projects.

Residential investment
Refurb to sell
Refurb to rent
£65k to £15m
1 Day to 18 months refurbishment
Term mortgages
Bridging facilities
Refinance within 6 mths

i

Medium Refurbishment Details

Medium extent refurbishment products developed for clients purchasing property requiring more extensive refurbishment or renovation than light refurbishment products allow. Extent of work may include internal reconfiguration and conversion of single dwellings into multi-unit residential let property and HMOs. Refurbishments can include work under permitted development rights such as house extensions and loft conversions. Property conversions, where change of use is already granted, can also be accommodated by medium refurbishment. Planning consent should already be in place before financing. Work is generally limited to being of a non load-bearing nature but may include remedial work to floor structure, replacing doors and windows, and limited repairs to roofing. Cost of works can be as much of 30% of the day one value. Interest roll-up can also be arranged for periods of up to 6 months to assist cash flow during renovating period.
Z

Extent of Works for Medium Refurbishment

Allows works as per medium refurbishment and renovation, and works including:

Internal reconfiguration
New flooring, doors, windows, etc.
Property conversions
Change of use
Works exceeding 15% day 1 value
Work requiring planning consent

Medium Refurbishment and Renovation Finance Projects

Allow all work as per light refurbishment, including:

Uninhabitable property
Converting to HMO
Conversion to flats
Change of use
Extensions & loft conversions
Mixed use property

Pre-Work for Medium Refurbishment

Day one Loan to value Borrow up to 70% of the purchase price or pre-work day one value

=

After Works for Medium Refurbishment

Improved value LTV After the renovation work has completed borrowing can be increased to a maximum of 85% of the finished property value even within 6 months of purchase.

Heavy Refurbishment

Heavy Refurbishment Requirements

Acquisition & refinance for light refurbishment and renovation projects.

Residential investment
Refurb to sell
Refurb to rent
£65k to £15m
1 Day to 18 Mths refurb
Short term funding
Lending Pre-planning
Refinance within 6 mths

i

Heavy Refurbishment Details

Heavy refurb finance is available for refurbishment projects incorporating more extensive work including structural alterations, extensions and internal reconfiguration. Works requiring building regulations approval can also be accommodated. Funding can also be provided for projects requiring planning consent and change of use, such as converting a single dwelling into several self-contained flats or multi-unit residential accommodation. Heavy refurbishment products are aimed at individuals experienced in refurbishment and similar property renovation projects. Total cost of works can be as much as 40% of the day one market value or purchase price. Interest can be rolled up for 6 months if required and option to exit to a term mortgage from 2-30 years.
Z

Extent of Works for Heavy Refurbishment

Allows works as per heavy refurbishment and renovation, and works including:

Structural alterations
Structural remedial work
Property conversions
Change of use
Lending at pre-planning
Cost of works up to 40% MV

Heavy Refurbishment and Renovation Finance Projects

Allows all work as heavy refurbishment, including:

Pre-planning consent refurbs
Pre-planning consent acquisitions
Planning gain conversions
Converting to HMO
Conversion to flats
Change of use

Pre-Work for Heavy Refurbishment

Day one Loan to value Borrow up to 70% of the purchase price or pre-work day one value

=

After Works for Heavy Refurbishment

Improved value LTV After the renovation work has completed borrowing can be increased to a maximum of 85% of the finished property value even within 6 months of purchase.

Get a Quote For Refurbishment Finance Online

Quote Refurbishment Mortgages & Finance

0
Next