Lendinvest have released a new product to support property developers and portfolio landlords who are looking to refurb a property and cover the costs of the works with one loan.

Key features: 

  • Interest rate of 0.85% pm
  • Up to 85% of day 1 open market value
  • Total facility capped to 75% of the GDV
  • Drawdown of up to 100% of the works amount 
  • Second drawdown available from day 2 onwards
  • Loans £150k to £1 million
  • Minimum experience required of 1 similar project
  • No monitoring required
  • Valuation and legal fees paid for when transferring to their standard Buy-to-Let and HMO products.

The following refurbishment works are allowed during the loan term:

Always allowed : Decorating, replacement of kitchens, bathrooms, electric rewiring, plumbing, windows & doors. Works to improve EPC rating.

Allowed at underwriters discretion : Minor structural works & conversions, involving building regs approval or planning permission inc. HMO conversions

Complete FS is proud to be a Strategic Partner of Lendinvest, which gives us the unique opportunity to deliver quality products with a quality service

If you would like to discuss how this works please contact the Bridging & Commercial team today on 023 8045 6999 option 3.

For intermediary use only.

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