Our short term bridging loans are for purchase, refinance, property improvement or to unlock working capital for business purposes.
This unique overdraft provides you with a flexible drawdown facility giving you instant liquidity and avoids heavy setting-up costs.
Individually structured loans for residential and commercial projects, with finance available for site purchase, construction and fees, refinance, equity release and to provide working capital. Loans are available up to 90% of the site cost.
Flexible first and second charge non-regulated loans available on terms from 3 to 5 years.
We have a commitment to innovation and with the ever changing financial landscape around us we have designed a range of unique Specialist Lending products that solve a range of property finance needs.
Heavy Refurbishment Bridging Loan
Our heavy refurbishment bridging loan provides bridging finance that is ideal for converting commercial premises to residential investment use. It is also perfect for structural reconfiguration and extension of existing residential properties for which planning permission is required.
We review contractor’s proposals, plans and elevations individually. We also review planning permission, if this is needed for the improvements to be carried out. Thereafter, our valuer and monitoring surveyor will carry out the usual due diligence.
We fund the total cost including interest and we also agree at the outset the amount of the purchase loan and the final release available on completion of the works. Our asset managers remain in close contact throughout the project. They visit the site as necessary, to ensure stage advances are agreed and paid promptly, and small problems are resolved in their infancy with opportunities maximised as they occur.
Interest is funded within the facility. The rate of interest is reduced at practical completion until the loan is repaid from either the proceeds of sale or refinance, or transferred to an Alternative Term Loan.
View our ‘6 steps to funding success’ here.
As amounts can vary, please contact us to discuss your Refurbishment Loan query with one of our experienced BDMs. We’ll quickly make a decision regarding your loan requirements to ensure progression of your chosen funding solution.
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Loan Term 3 – 24 Months
Minimum Loan £500,000
Maximum Loan £3,500,000
Fees Exit Fees 1%
LTV up to 70% LTGDV
Interest from 1.05%
Definitions
Features
Alternative Bridging Corporation’s Heavy Refurbishment Loan is available for improvement, refurbishment and extension.
Find out all the answers to your frequently asked questions about our Refurbishment Bridging Loans.
Heavy Refurbishment Bridging Loans explained:
Our Heavy Refurbishment loans provide finance for converting commercial premises for residential use. They are also suitable for structural reconfiguration and extension of existing residential properties for which planning permission may be required.
Our refurbishment loans can support refurbishment works on any existing structure including conversion, renovation or extension projects. Our refurbishment loans allow for light or heavy refurbishment works. Heavy duty works are inclusive of structural changes and minor development, including works to a basement, change of use or converting a residential property to HMO for investment.
Our Heavy Refurbishment Loan includes decoration and installation within an existing structure:
Our Heavy Refurbishment loans are available for properties including:
You can take a Property Refurbishment loan against a wide range of property types, but there are some exceptions for which we generally do not offer finance. These typically relate to the more unusual or agricultural end of the market and include:
In certain instances, for example where a larger holding includes one of the above as a small part of it, we may, dependent on the project and borrower specifics, be able to make an exception, so treat the above list as indicative and call us to explore your project finance options.
Our Heavy Refurbishment loans start at £500,000. The maximum loan is £3,500,000.
The loan to value (LTV) is up to 65%. As noted above, these terms are indicative, so please get in touch to discuss any associated refurbishment fees on your project with us. Dependent on your circumstances, the property, the projected value etc., we may be able to vary amounts and terms.
That’s the beauty of arranging Heavy Property Refurbishment with us – we like to say yes. Let us say yes to you, simply and swiftly.
To discuss your current or pending lending needs, get in touch today.
