Refurbishment Finance - Light, Medium, Heavy
3 – 24-month facilities
£100,000 to £2,000,000
Property refurbishment
Property conversion
Milestone Drawdowns
Simple drawdown structure
Max of 5 drawdowns
1st and 2nd legal charge
Security can be owned by the business or personally
Personal guarantee’s
Interest serviced or retained
LTV’s
All LTV’s are based on Open Market Values
Light Refurb 70%
Medium Refurb 65%
Heavy Refurb 65%
Additional Security
Land with full planning permission 65%
Residential property < £1 Million 75%
Residential Property > £1 Million 70%
Commercial Property < £1 Million 70%
Commercial Property > £1 Million 65%
Pricing
Set-up fee from 2%
Monthly interest rate from 1% of gross loan
Exit Fee 1%
Interest serviced or retained
Lenders legal fees and valuation fees to be paid by the borrower
Monthly monitoring fees (if applicable) paid for by the borrower
Capital can be repaid adhoc with no penalty (on the sale of each property)
Interest paid on the highest balance outstanding in the month