Bridging Finance

Heavy Refurbishment

Our heavy refurbishment bridge is suitable for investors and developers who require funding for works to be carried out within an existing structure or for extensions. Our heavy refurbishment bridge can be used when converting a commercial property into residential or converting a house into flats.

Loan Size

£500k - £5m

Loan Term

1-15 months

MAX LTV (day one)

70% net

Max LTGDV

70%

Max LTC (net)

90%

MAX £PSF of GDV

£1,750

Arrangement Fee

2%

Exit Fee

Up to 2%

Interest Method

Rolled

Charge

1st and 2nd charge

Property

Residential, Commercial, Mixed-use, HMOs.

Works

Conversions and improvement works, converting a commercial property into residential,conveting a house into flats - We will fund 100% of the construction costs. Works up to 50% of the property value are permitted. Works that increase the sqft of the property up to 25% are permitted. We will manage draw-downs using light touch monitoring when possible.

Tenure

Freehold and leasehold with at least 55 years remaining on lease.

LTV %

Rate (%pm)

>55

0.60-0.70%

>60

0.64-0.75%

>65

0.69-0.85%

>70

0.79-0.95%

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