Are you looking for property refurbishment finance? In the world of property renovation, the success of a refurbishment project doesn’t only lie in the finished product. Whether you’re planning an extension or a top-down refurbishment, getting the right property development finance in place is also essential.
What is property refurbishment finance?
Property refurbishment finance enables the applicant to carry out works on a property, whether that’s to improve a residential property, or with the aim of increasing its value and then either selling it on or letting it out to tenants.
Residential property refurbishment finance
It might be that you wish to refurbish a property that you live in, and require capital to do so. While it’s sometimes appropriate to refinance your first charge mortgage in order to raise funds, this isn’t always desirable – particularly if you currently have a great mortgage deal, or would incur early repayment charges by doing so.
Instead of taking out a personal loan to do this, second charge bridging refurbishment finance could be of use here. Our brokers can talk you through the options.
Property refurbishment finance for investment purposes
Whether you have an asset you’d like to refurbish to let out, or want to ‘flip’ properties to sell on for profit, you may need a short-term loan for property refurbishment. Whatever your requirements are, a short-term loan could be the solution that enables you to complete the work at hand.
Property refurbishment projects rarely run exactly as planned. As you might imagine, lenders are more inclined to work with applicants who already have proven experience, as this is perceived as less of a risk. However, that’s not to say that first time developers can’t use this sort of finance, providing you know the right people to contact.
Why should you use a broker to secure property refurbishment finance?
Financing renovations isn’t like arranging conventional property loans, and as this is a niche area, it can be difficult to get to grips with exactly what your options are.
And regardless of whether you’re renovating your own property or carrying out works on an investment asset, the margins in such projects can often be tight. Getting the financial aspect of your deal right could make the difference between a successful and frustrating property refurbishment project.
At Articus Finance, our brokers have plenty of experience arranging property refurbishment finance for a range of purposes and individuals. We can help you to secure the best property refurbishment loan rates, using our expert knowledge and countrywide industry contacts to negotiate the perfect deal for you.
Our specialist mortgage brokers are highly experienced in negotiating the best mortgages and mortgage rates, no matter how complex your situation.
With over 20 years’ combined experience sourcing the best mortgage deals for global clients, our brokers have the skills, knowledge, and lender relationships to turn your property aspirations into a reality. To find out how we do it, explore our case studies.View our case studies