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Whether you are thinking about a refurbishment bridging loan for investment property, there are several reasons that this type of finance might be beneficial to you.
The purpose of a refurbishment bridging loan is to inject the capital you need to get the necessary repairs and renovations done in a short timeframe, which can be ideal for those who are looking to sell their properties for the highest possible price. By taking out refurbishment finance, you will have the cash that you need to get your property into the best shape of its life and to assure the highest possible sale value.
Even a light refurbishment can give you the chance to make the changes to your property that you have always dreamed of. If you are tired of living in a property where you are constantly thinking “what if?” then it might be time to start thinking about how you can finance the refurbishment of your dream home.
Our property refurbishment finance options give you the chance to perform the maintenance that is needed to your property, to ensure that it remains in the best possible shape.
Ascot is provided with a summary of the deal, reasons for wanting a bridging loan, the security available and a clear repayment strategy.
Ascot will provide a set of Heads of Terms outlining the key details to which we are happy to lend and the next steps to proceed to the next stage.
Ascot receives a fully completed application form and supporting documents for underwriting review and full due diligence.
Ascot will instruct both a Surveyor to provide a valuation report and a solicitor to undertake the required legal due diligence.
An Asset Manager will visit the property and discuss with the borrower their plans for the project, experience, exit strategy and the contractors they intend to use.
Your underwriter will present the case to the credit committee team detailing the due diligence undertaken to date and their rationale for approval.
Legal work is satisfied, security documents are signed and returned with funds released to the solicitors for completion.
Contracts exchanged with monies sent to the seller. You are now the legal owner of the property.
There is only so long that an older property can go without requiring some kind of maintenance work to be conducted. With older homes, like many of the homes in the UK, this work may involve important maintenance to be carried out on the structure itself. Without a doubt, structural work is one of the most important maintenance projects you can conduct on a property but it often does not come cheap and we understand that not everyone can afford to invest these additional funds into this kind of heavy maintenance. With our property refurbishment finance, you can secure the funding that you need to complete these all-important works on your property to ensure that it remains in the best possible shape, for the longest possible time.
Good business is all about first impressions and with a refurbishment bridging loan, you will be able to put your best foot forward in the business world sooner than you might have thought. At Ascot Bridging Finance, we are all about getting you the funds that you need, when you need them to ensure that your business can continue to thrive. Whether you are looking to refurbish a tired storefront, or renovate an entirely new location for you, consider taking out property refurbishment finance with Ascot.
At Ascot Bridging Finance, we are proud to offer a specialist team of financial experts to help you achieve your property goals. From the initial application through to the distribution of funds, our team will be by your side to ensure that you receive the property refurbishment finance that you need to better your world. If refurbishment bridging loans are what you need to take your business to the next level then we will be here to support you. Contact our team today to see how a refurbishment bridging loan might be the answer to all of your questions.
Property refurbishment finance is a type of loan designed to fund the renovation or refurbishment of residential or commercial properties. It helps property owners and developers cover the costs associated with improving and upgrading properties.
Property investors, landlords, developers, and homeowners looking to enhance the value of their properties can benefit from refurbishment finance. It is particularly useful for those looking to renovate properties for resale or rental purposes.
Refurbishment finance is typically provided as a short-term loan. Funds are released either as a lump sum or in stages, depending on the project’s progress. The loan is repaid once the refurbishment is complete, either through the sale of the property or by refinancing.
The amount you can borrow depends on the property's current value, the expected cost of the refurbishment, and the projected after-works value. Lenders typically offer up to 70-75% of the property's after-works value.
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