Light Residential Refurbishment Loan
Where we are being asked to fund the improvement works. Works being non-structural in nature, costing less than the higher of £30k or 15% of the current property value.
- Monthly interest from: 0.85%
- Arrangement fee: 2%
- Exit fee: Negotiable
- Maximum loan to value: up to 75% of purchase price or day 1 OMV (subject to end LTGDV not exceeding 70% and total LTCost not exceeding 80%) Plus 100% of refurbishment costs.
- Maximum term: 18 months
- Minimum loan: £100k
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LATEST case study
Signature Property Finance has completed a bridging loan to help a property developer based in Scotland release equity from a residential property in Prestwick – a deal other lenders had declined due to a previous low purchase price despite the asset’s increased value. The property, a three-bedroom semi-detached house, had…
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