One of our lending partners has recently made some exciting enhancements to their 85% loan-to-value light refurbishment bridging loan product.
To qualify previously for the 85% bridging product, there could be no structural works carried out on the property, as this would be deemed as a ‘heavy refurbishment’ therefore the loan to value would be capped at 75%.
The lender has now simplified their ‘light refurbishment’ criteria which means that projects that involve small extensions or loft conversions that do not require planning permission, can now qualify for the 85% loan-to-value ‘Lending for Refurbishment Costs’ product.
This is a great enhancement to the already popular product, and we hope these criteria changes will be able to assist our clients to move forward with their projects.
How can Advocate Finance help?
Our Advisers here at Advocate Finance are experts in arranging bridging loans for light refurbishments, conversions & developments for property investors/developers.
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