REFURB+ BRIDGING

Catalyst 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.

Refurb+ Monitoring

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.
Property

Located in England and Wales.
Residential, semi-commercial and commercial to residential conversion.
Refurbishment allowed up to 25% expansion.

 

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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.