The Refurbishment Range enables brokers and borrowers to easily select which product best suits the anticipated project, whether it be light, or a medium to heavy refurbishment project. Both products provide a different solution tailored to the level of refurbishment the borrower plans to undertake.
Both Refresh and Renovate are designed for those who have little to no experience or are seasoned investors who regularly undertake large refurbishment projects.
The Refresh product provides the highest LTV at 75% on non-regulated residential, mixed-use or commercial property, with loans available up to £1.5m.
It offers a very competitive rate, now reduced, starting from just 0.82% with no exit fee. The Refresh product is available for a loan period between 3 – 12 months, a suitable timeframe to undertake light refurbishment works.
The Renovate product provides borrowers with the option of a newly reduced rate, starting from just 0.84% and up to 70% LTV on residential properties with a maximum loan of £3m. These bridging loans are designed for medium to heavy refurbishment projects which involve some structural work and are available for a loan term between 3 -18 months.
Each product has a maximum of 70% GDV, the option of multiple drawdowns and is able to fund 100% cost of works.