Refurbishment GDV and Refurbishment Bridge: how we’re supporting projects of every type
Written by Luke Stevenson
To get quotes for our bridging range, go to our bridging page, or email our team [email protected]
By Leanne Ardron, Head of Bridging Finance
This week we launched our new Refurbishment GDV product. Now I know what you’re thinking: ‘You already have a refurbishment product that we all love so much because of its speed, flexibility and 85% gross LTV’.
And yes, you’d be right, and not at all sounding like a LendInvest advert.
But by observing the market and talking to our brokers, we realised there was a gap between refurbishment bridges – quick acquisitions, light refurbishments, quick turnarounds – and larger-scale refurbishment that weren’t being met.
That’s where our new Refurbishment GDV product comes into it.
The product details
What separates this from our refurbishment bridge is the structure of the facility; we’ll support your investor clients with heavier refurbishments and a max of three drawdowns – delivered in 24 hours – throughout the lifetime of the project.
The loan size – £100,000 to £1.5 million – supports investors and properties of every stripe to acquire or refinance their products and undertake a refurbishment.
The extent of monitoring will be decided case by case depending on the complexity of the refurbishment, our expert team will provide guidance.
The approach
Our refurbishment bridge sits neatly in the portal – of course it would, it’s a bridge – but we understand the type of projects that will be funded by our heavier refurbishment, GDV product might need a bit more hands-on support, which is why we’re delivering it through our team of experts to help build every deal around your clients’ needs.
So you can contact our team – [email protected] – for a quote.
Who are the products for?
As I mentioned, this Refurbishment GDV is to fill a gap in the market to support investors to add value and improve the quality of housing stock, on a larger scale than our Refurbishment Bridge.
By splitting the products in two, we’re keeping each process simple and tailor made to your clients’ needs.