REFURB+ BRIDGINGCatalyst Property Finance / Refurb Plus Bridging
Refurb+ Bridging is designed for property investors/developers who want to maximise cash flow, reduce borrower equity, and lower professional fees on their refurbishment and conversion projects.
Loans available up to 75% OMV (Open Market Value) + rolled interest + Asset Manager/Quantity Surveyor fees added to the facility.
Refurbishment budget up to 50% day 1 OMV.
Up to 100% of works funded in arrears.
No Asset Manager required:
Client funded cost of works < 10% of day 1 OMV. Up to £50k cost of works considered.
Asset Manager required:
Catalyst funded cost of works < 10% of day 1 OMV.
Catalyst/client funded cost of works 10% to 50% of day 1 OMV.
QS may be required:
Cost of works > £250,000
Further advance at Practical Completion
Where clients self-fund cost of works, they can apply for a further advance at Practical Completion, subject to not exceeding max. 75% LTGDV.
Pre-further advance, an Asset Manager visit will be required.
Lending Criteria Overview
|Borrower||Experienced and less experienced developers and/or contractors to 75% of Open Market Value
Borrower 3 year UK address history.
UK individual or LTD Co/LLP. Offshore LTD Co.
|Loan||Loan terms from 3 months to 24 months.
No ERCs, 1 month minimum interest.
Loans available from £100,000 to £5 million.
Interest can be rolled up and added to the loan above the net LTV.
Located in England and Wales.
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Monthly Interest Rates From
Refurb+ Bridging Loans
|% of Open Market Value:||60% LTV||65% LTV||70% LTV||75% LTV|
|Experienced property professionals*||0.65%||0.70%||0.75%||0.80%|
|Less experienced borrowers||0.70%||0.75%||0.80%||0.85%|
*Experienced developers: 3+ recent schemes
How to arrange your Refurb+ bridging loan
Call our bridging finance team on 01202 112 900, they will assess your bridging loan enquiry and quickly respond with a lending decision. They can offer terms up to 24 months and loans up to £5 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.