This light-refurbishment bridging loan product accommodates refurbishments where no planning permission is required, and there is no overall change to the structure resulting in an increased footprint of the property. Also available where works are being completed under Permitted Development Rights. FCA regulated and non-regulated bridging loans.
|Key features||Current at November 2023|
|Min loan:||£ 50,000|
|Max loan:||£ 5 million|
|Interest rate:Rate:||from 0.74% pcm|
|Max LTV:||75% (100% of build cost)|
|Security:||First or Second charges|
|Term:||3-36 months (3-12 months for regulated)|
|Facility fee:||0.5% - 2% on completion|
|ERC / Exit fee:||not usually required|
|Monthly payments:||None required (options to roll or service interest)|
|Locations:||England, Scotland & Wales|
You could save the cost of a full physical valuation with an automatic desktop valuation, which are available FREE OF CHARGE for standard bridging loans, provided the following criteria are met ...
When multiple properties are used as security, an AVM can be used for each property. If an AVM cannot be used, a physical valuation will be required. Desktop valuations are not available for the following property types ...
Applications can be accepted for who meet the following criteria:
Lending outside of these limits can be considered subject to underwriter review, please contact us for further details
Applications can be accepted for companies meeting the following criteria:
Personal guarantees may be required for directors and shareholders. This will usually be subject to the company having a maximum of 4 qualifying directors and shareholders.
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All types of briging & development finance available from £50,000
100% LTV also available with additional security property
The very latest low bridging loan rates at November 2023
Lowest bridging rates at November 2023
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