REFURB+ BRIDGING

REFURB+ super stretch bridge

Up to 75% OMV + rolled interest + AM/QS fees

Refurb+ Bridging is a rolled interest product designed for property investors/developers who want to maximise cash flow, reduce borrower equity, and lower professional fees on their refurbishment and conversion projects. 

Borrowers
Borrowers with good credit history and 3 year UK address history.
UK individual or LTD Co/LLP. Offshore LTD Co.

Loans
Rolled interest
No ERCs, 1 month minimum interest. No exit fees.
Loans available from £100,000 to £5 million.

REFURB+ MODERATE:
Up to 75% LTV net including the arrangement fee/Up to 75% LTGDV gross including interest.
Works allowed up to 50% of day one OMV/25% expansion of the property footprint.
100% of works funded by Catalyst.
Monitoring of works: AM or QS upfront and at each draw. If over £250k, a full QS required.
Terms up to 24 months.

REFURB+ LIGHT, NO QS:
Up to 70% LTV net including the arrangement fee/Up to 70% LTGDV gross.
Works allowed to the lesser of £25,000 or 10% of day one OMV/25% expansion of the property footprint.
100% of works funded by the borrower.
Monitoring of works: No AM/QS required
Terms up to 9 months.

Property
Properties in England and Wales.
Wide range of property types considered.

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 maximum 75% LTGDV, including interest. Pre-further advance, an Asset Manager visit will be required.