SPECIALIST MORTGAGES
REFURBISHMENT FINANCE
For property investors, landlords and owner occupiers
FUNDING FOR ALL TYPES OF PROJECTS
SPF can arrange the finance to help you release equity by either fully converting or simply refurbishing a property before renting, selling or refinancing it using the growing term of, Buy Refurb Rent Refinance Repeat.
The lenders we work with can provide a loan towards the purchase as well as fund the works to the property, working off the projected end value or gross development value (GDV).
We have access to funding for all types of projects, from light refurbishment to heavy structural works, including altering the square footage of a building and carrying out works under planning permission.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
We may charge a fee for the advice we provide; this fee will be dependent upon your personal circumstances and will be agreed with you after we have fully understood your requirements. Any fee is usually payable upon successful completion of the loan.
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Whatever your enquiry, we will endeavour to be of assistance to you. Please feel free to call us or complete our enquiry form below.
REFURBISHMENT FINANCE PURPOSES
Refurbishment finance can be used for many purposes, including:
- Converting commercial property to residential – you will normally require either a ‘change of use’ granted via the local authority in order to convert a commercial property into a residential one, or full planning permission. This will depend on how much you are reconfiguring the internal layout of the property.
- Converting a property from a house to flats or converting a property from flats to a house – it’s important to consider planning consent and building regulation approvals when undertaking projects such as these. Typically, this may take up to six months to complete.
- Funding a rear or side extension, or loft conversion – through the addition of a rear or side extension, roof extension or loft conversion, the property value can increase significantly. These types of projects can usually be completed under permitted development rights, although it is sensible to obtain a certificate of lawful use.
- Converting a property to an House of Multiple Occupation (HMO) – improvement or conversion work requiring planning consent and/or building regulations approval and where a change of use may be required.
- Barn or farm building conversions – we have lenders who will fund the cost of converting these buildings into a residential property which will normally require planning permission. The amount you borrow will be based on how much the property is likely to be worth once completed.
RELATED GUIDES
DOWNLOAD A Guide to REFURBISHMENT FINANCE
Please complete the form below to access our Guide to Refurbishment Finance.
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