Signature Property Finance has completed a £90,950 light refurbishment loan to support the purchase of a two-bed terraced house in Abertillery and its upgrade into a modern three-bed home, with staged funding for 100% of the works.
Introduced by Declan Ward of The Finance Ward, the deal highlights Signature’s ability to support focused refurbishment projects in value-conscious markets where rental demand remains steady.
Abertillery sits in Blaenau Gwent, north of Newport and just 30 miles from Cardiff, with good public transport links and easy access via the A467 and links to the M4. The town offers everyday amenities including shops, community facilities and a sports centre, making it an area well suited to the growing rental market.
Supporting practical upgrades in South Wales
The borrower, a newly formed SPV, agreed the purchase of the property in Abertillery for £77,000 with a clear plan to reconfigure and modernise the property – planning permission not being required for the agreed scope.
The works include a full rewire, new kitchen, bathroom upgrades and a partition to create a genuine third bedroom, alongside plastering, flooring and decorating throughout to bring the property in line with modern tastes.
Signature’s facility provided a net day-one advance of £46,531 against the existing value to help complete, with £30,000 of works funded in drawdowns released in arrears on evidence of progress. The programme was expected to take 12–16 weeks, comfortably within the 12-month term, allowing time to refinance or sell.
Clear structure, measured leverage
The loan is set at around 62% LTGDV and 85% LTC, balancing support for the borrower’s plan with sensible risk controls. Staged drawdowns and on-site monitoring ensure quality and momentum, including a planned visit as the works near completion.
When completed, the property is expected to achieve a GDV of £130,000, verified by an independent valuation using comparable local sales. Local lettings evidence indicates £650–£700 pcm, which will support the planned exit onto a BTL refinance. Alternatively, an open-market sale provides a secondary exit, with marketing time estimated at up to six months.
Josh Barrett, Relationship Manager at Signature, commented: “This is another good example of the type of project we’re keen to support. Working with a responsive, knowledgeable broker and an experienced developer who recognises opportunities to improve housing in high-demand locations makes our lending decisions simple.
“Bringing old housing stock, suited to a different era, back to life with a sensible upgrade and improvements throughout, shows a good grasp of the changing market. We’re happy to help, particularly in areas where the growing economy ensures rental demand remains strong.”
Declan Ward of The Finance Ward, said: “It was obvious from the outset that the Signature team and Josh in particular, understood what our client was hoping to achieve and acted quickly to support the development timeline.
“It is good to work with lenders who genuinely understand the market and work hard to support developers, making the funding process as hassle-free as possible – which in turn helps us develop strong relationships with our clients.
“Given the process and the support Signature has provided at every stage of this deal, we expect to work closely again with Josh and the team, as we get busy in the coming months with new client projects.”
Working hard to support developers
Here at Signature we work hard to deliver high-quality products that work in practice, not just sound good on paper. Our certainty of funding and reputation for following through on our promises should instil confidence in finance brokers and their property developer clients that we have the tools and determination to help them get deals done.
This deal in Abertillery, is another good example of how we can support developers with the funds they need, when they need them, to complete projects and achieve successful exits.