Property refurbishment loans are short-term and designed for property investors and developers looking to convert a property prior to renting on selling, sometimes called a refurbishment bridging loan.
There are two primary offerings available to professional investors within the short-term loan market, dependent on whether the applicant is looking to carry out work categorised as either light or heavy refurbishment.
Light refurbishment finance can typically help you install a new kitchen, bathroom and general decoration which is designed to increase the property value, in turn increasing the level of rental income also. Anything that requires planning permission, relating to the structure of the property, with the intention to increase the properties footprint by way of extensions, is classed as heavy refurbishments
A specialist refurbishment mortgage will allow you to fund your refurbishment project with the security of knowing your project will significantly increase the end value of the property.