REFURB+ BRIDGING
Catalyst Property Finance / Refurb Plus BridgingREFURB+ 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.
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Monthly Interest Rates
Competive fixed monthly interest rates available from:
% 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+ schemes in the last 5 years.