During the lockdown we restricted our refurbishment appetite – we didn’t fund projects where the cost of works totalled more than 50% of the day one value of the property.
We have now relaxed this rule slightly. For borrowers with experience, we can now consider projects where the cost of works is up to 75% of the day one value.
This allows us to look at heavier refurb projects and is a step back towards our normal appetite.
A few points worth noting…
- We roll interest – which means our day one net loan is very close to 70%.
- Our day one minimum loan size is £150,000
- We lend right across mainland England and Wales
- We are completely flexible on upfront fees and procuration fees
- Our rates typically range from 0.65% – 0.85% per month, making them amongst the lowest in the market
If you have any bridging, refurbishment, developer exit or BTL enquiries you would like us to look at please do let me know.