Finance for Property Refurbishment Projects

Property refurbishment finance can often be used to ‘bridge’ any gap in funding.

Property Refurbishment Finance for Developers

For smaller development projects, property refurbishment finance can often be used to ‘bridge’ any gap in funding. This can be used for both light refurbishments and heavy refurbishments, from properties requiring finishing off such as kitchens, bathrooms and other non-structural changes to major works that may require planning permission.

Bridging finance can also be used to fund the marketing period once a development completes.

Funding Structures Available

  • Standard development facilities as a first charge
  • Mezzanine or ‘top-up’ debt as a second charge (where first charge lenders allow)
  • Joint Venture (JV) lending

What types of projects are supported

  • Residential housing
  • Commercial property including single build and multiple units
  • Mixed-use commercial and residential units (semi-commercial)
  • Purpose-built student accommodation
  • Refurbishments and Conversions
  • Purpose-built such as nursing care homes

What types of projects are supported

  • Residential housing
  • Commercial property including single build and multiple units
  • Mixed-use commercial and residential units (semi-commercial)
  • Purpose-built student accommodation
  • Refurbishments and Conversions
  • Purpose-built such as nursing care homes

Summary of current key underwriting criteria

  • Applications should be supported by good evidence for local demand
  • If properties are to be retained on completion, long term refinance options are available
  • Developments ought to show sufficient margin to absorb any possible fluctuations in the anticipated GDV of the project
  • The borrower or proposed main contractor should have a good CV and able to demonstrate relevant experience

Contact Us today to discuss your property refurbishment projects.