Amazing new refurbishment funding product launched for investors!
If you’re looking for new refurbishment funding this lending opportunity should be considered!
On new property purchases, in addition to borrowing 75% LTV against the lower of Day 1 purchase price or value, our funder allows applicants to now borrow up to 100% of the refurbishment costs on a single larger facility, with funds released on day one and no stage drawdown required.
Basic guidelines:
- Loan may not exceed either 85% LTV against the lower of Day 1 purchase price or value, OR, 70% of GDV or after works value (whichever is lower)
- All funds advanced to borrower on Day 1
- No QS required, just an interim inspection at the end of month 3
- Available on light refurbishment projects across residential and semi-commercial security
- Ability to capital raise and refinance, once the works are complete on to a term solution with no fee !!!
If your next project involves a refurb, this product could work really well for you! To find out more, please call Dave Ottley on 07747 444504 or email dave@balanceforbusiness.co.uk
Check out our other types of property finance below:
