RENOV8
DESIGNED FOR PROFESSIONAL PROPERTY LANDLORDS SPECIALISED IN RENOVATION OF RESIDENTIAL PROPERTY.
- TWO ‘TIER’ BRIDGING.
- A bridging loan that can be taken for a maximum of 8 months. The loan is split into two drawdowns providing finance initially against the un-modernised valuation of the property, followed by a further advance against the uplifted value of the property on completion of the refurbishment works.
- Interest Rate of 1.45% per month for the period of Initial advance.
PRODUCT KEY FEATURES
- Available to property landlords with proven eperience of modernising and renovating properties.
- Loan divided into 2 parts to suit the borrowers specific requirements:-
1 – “Initial Advance” based on the market value of theun-modernised property.
2 – “Further Advance” based on the uplifted value after modernisation. - Loan costs structured using our unique “Waterfall” pricing structure.
- Interest Rate of 1.45% per month for the period of the Initial Advance.
- Reduced Interest Rate of 1.25% per month for the period of the Further Advance.
- Valuations to report on both the ‘before’ and ‘after’ value of the property.
- Applicants will need to prove experience and ability to self-finance the modernisation works.
- 65% Loan To Value.
VIEW OTHER PRODUCTS:
WE WILL LEND AGAINST >
- RESIDENTIAL PROPERTY
- RESIDENTIAL DEVELOPMENTS
- COMMERCIAL PROPERTY
- COMMERCIAL DEVELOPMENTS
- MIXED USE PROPERTY SCHEMES
- OFFICES
- RETAIL
- LAND
- INVESTMENT PROPERTY – RESIDENTIAL AND COMMERCIAL
WHY CHOOSE BRIDGEBANK >
- DECISIONS IN HOURS
- LOAN COMPLETIONS IN DAYS
- EXPERIENCED FINANCE AND PROPERTY PERSONNEL
- ON-LINE APPLICATION PROCESSING
- NO FRONT END PROCESSING FEES
- BROKERS FEES PAID ON SAME DAY AS ADVANCE PAID TO BORROWER
- EXTENSIVE PANEL OF APPROVED VALUERS
