Refurbishment finance

Catalyst Property Finance / Refurbishment Bridging

Are you looking for fast and flexible short term finance to improve your investment property? If you are considering undertaking light, moderate or heavy refurb, our refurbishment finance could work for you.

Lending Criteria Overview

Borrower Experienced developers and/or contractors to 80% LTV, inexperienced developers to 70% LTV.
Borrowers with good credit history and 3 year UK address history.
UK individual or LTD Co/LLP. Offshore LTD Co.
Loan Loan terms from 3 months to 24 months.
Loans from £100k to £10m. At 80% of OMV the maximum loan is £500k.
No ERCs, 1 month minimum interest.
Interest serviced, blended or retained.
Property

Properties in England and Wales.
Residential and semi-commercial; if semi-commercial, the residential element must be >50%. Commercial to residential conversion permitted.
Refurbishment finance requires at least one original wall to remain standing throughout the construction process and into the finished property. See Development Finance for ‘ground up’.

LIGHT REFURB: Refurbishment budget or total build cost (inclusive of professional fees) is less than or equal to 50% of OMV and less than 50% GDV and does not involve a >25% expansion of the footprint of the property, excluding loft extensions. Loans up to £10m. 
For self-funded loans to the lesser of £100k for experienced borrowers/£50k for inexperienced borrowers or 25% day one OMV, there are no Asset Manager or QS requirements.

MODERATE REFURB: Refurbishment budget or total build cost (inclusive of professional fees) is less than or equal to 100% of OMV value, less than 50% of the GDV value, does not involve a >25% expansion of the footprint of the property, excluding loft extensions. Loans up to £10m. 

HEAVY REFURB: Refurbishment budget or total build cost (inclusive of professional fees) is greater than or equal to 100% of OMV value, less than 50% of the GDV value, involves more than a 25% expansion of the property. Loans up to £7.5m. 

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Refurbishment bridging finance has been designed to help you fund significant improvements to your property. We understand that moderate to heavy property renovations can be costlier and more time consuming than light refurbishment projects. For example, you may wish to increase the number of rooms in your property to improve the layout and increase space. Or, as a business, you may consider capitalising your venture by embarking on an improved building, with walls coming down and premises being extended.

So, when it comes to bridging finance, what exactly do we consider to be medium to heavy refurbishment? Typically, there are elements of structural change to the property and there is a need for planning permission. These types of improvement renovations often cost thousands to complete and you may require a loan to undertake the building works. But there is a solution at hand with our improvement bridging loans.

Monthly Interest Rates From

LIGHT REFURB

% of Open Market Value: 50% LTV 60% LTV 70% LTV 75% LTV 80% LTV
Loans from £100k to £10m
fixed monthly rates from:
0.55% 0.60% 0.65% 0.69% 0.85% (max loan size £500k)

MODERATE REFURB

% of Open Market Value: 50% LTV 60% LTV 70% LTV 75% LTV
Loans from £100k to £10m
fixed monthly rates from:
0.60% 0.69% 0.74% 0.79%

HEAVY REFURB

% of Open Market Value: 50% LTV 60% LTV 70% LTV 75% LTV
Loans from £100k to £7.5m
fixed monthly rates from:
0.65% 0.75% 0.85% 0.95%

Please note that all loans are subject to lending criteria and underwriting.

To discover how much refurbishment bridging finance you can borrow, and at what monthly rate, please contact our New Business Team or send us a message with your contact information and we will get back to you quickly with heads of terms.

We’re here to make sure you never miss an opportunity

#WeAreCatalysts

Refurb bridge

Monthly Interest Rates From:

LIGHT REFURB:

% OMV £100k to £10m
50% 0.55%
60% 0.60%
70% 0.65%
75% 0.69%
80% 0.85%*

MODERATE REFURB:

% OMV £100k to £10m
50% 0.60%
60% 0.69%
70% 0.74%
75% 0.79%

HEAVY REFURB:

% OMV £100k to £7.5m
50% 0.65%
60% 0.75%
70% 0.85%
75% 0.95%

*For light refurb loans at 80% of OMV, the maximum loan size is £500k.

Please note that all loans are subject to lending criteria and underwriting.

To discover how much bridging finance you can borrow, and at what monthly rate, please contact our New Business Team or send us a message with your contact information and we will get back to you quickly with heads of terms.

We’re here to make sure you never miss an opportunity

#WeAreCatalysts

How to arrange your improvement bridging loan
Call our bridging finance team on 01202 112 900, they will assess your improvement bridging loan enquiry and quickly respond with a lending decision. They can offer terms up to 24 months and loans up to £10 million, all lending is subject to underwriting.

As a bridging loan company, Catalyst accepts borrowers who are aged between 21 and 85 at the end of the loan term.

The benefit of using an improvement bridging loan is that you can access the funds immediately, allowing you to start your renovations quickly. This is much more instantaneous than a mortgage loan, which could take days, weeks or even months to come through.