Refurbishment Loans
As the name suggests, these loans are raised to carry out a refurbishment on a property. This can be either a residential property or commercial premise where investors like to add value for uplift and then sell or refinance to add to their portfolio.
At times, the investors may not have funds to carry out a refurbishment and with our help they can access this funding either through their own residential or other investment properties in the portfolio.
For e.g. an unencumbered property with lot of equity not doing much or the asset is not “working hard” for you. Here you can let a bridging or BTL lender take the first charge on the property and release extra capital for refurbishments.
Alternatively, you may have other properties in your portfolio with low leverage which you could use for short term to raise additional capital for a project.
Typically second charge loans are very popular to raise extra funds where there is lending already on the property and good news is there are many short term bridging lenders and long term BTL lenders in the market.