Refurbishment finance is a special type of short-term financing. Property developers will buy a property requiring a level of modernisations of refitting. Refurbishment finance works in the same way as a bridging loan but there are additional loan amounts available which can be used to pay for any additional work. The refurbishment calculator will allow you to calculate your cost of borrowing. It will also show how much you could borrow additionally.
Bridging loans for residential and commercial property are available and if you are a developer or a landlady it’s a really useful way to secure a property or refinance existing commitments quickly. A refurbishment loan works well when cash flow can be a worry. Most lenders will lend in arrears of works subject to the works schedule.
Our alternative lenders can arrange bridging loans quickly and agree on terms in some instances within the hour and will look at the whole proposal, not just the numbers to understand your needs. When considering to take out a bridging loan, you should have a strong exit from the loan in place.
Azurian Capital works with leading alternative finance lenders with varying degrees risk tolerance. Speak to one of our team today so we can better serve you. Try out our refurbishment calculator to get a better idea of what the costs could be.