New Refurbishment Term Loan
We are thrilled to unveil our latest offering, an exclusive product that sets us apart from the competition: the New Refurbishment Term Loan. This innovative addition to our portfolio has been meticulously crafted to address our valued clients’ unique needs and aspirations. We take immense pride in being the sole network and packager to provide access to this exceptional financial solution.
Why this offer is different?
Before, if a client wanted a loan for refurbishment purposes, they would often need to apply for a bridging loan, which offered no guarantee of them being able to remortgage once the work had been completed, with a lender on the term and at the price they expected. This also meant the client would need to apply for two separate loans.
Now, this new Refurbishment Term Loan removes the risk and gives the client a 5-year term loan, on day one, based on refurbished property value. The lender holds back a portion of the loan and will release it once the work is complete and the property is occupied.
And there’s more
- The client only pays for one set of legal fees, saving them time and money.
- Speed, minimal documentation and streamlined processes help clients to secure loans quickly.
- Similar offerings in the market will not consider the client or property complexity level.
- Removes the uncertainty and frustration of the client having to apply for a 2nd loan on completion of the refurbishment
Who will benefit
- Experienced Landlords who have owned a minimum of 3 BTLs in the previous 12 months
- Standard residential properties and HMOs/MUFBs (max six units)
- Additional security can be used to increase the loan amount
All you need to know