Together has unveiled a new short-term loan for investors with residential property refurbishment.
The refurbishment bridging loan is specifically designed for light refurbishment, rather than properties that require planning permission or structural work, but can include replacement or refurbishment of kitchens and bathrooms, rewiring, internal reconfiguration and decorative works.
Flexible terms are available for amounts from £26,000 to £5 million, with further advances on offer to cover 100% of the refurbishment cost.
Marc Goldberg (pictured), Together’s commercial CEO, said: “We’re continually reviewing and improving our product range, and this new loan has been devised to help property investors and landlords access the finance they need to grow their portfolios.
“We’ve seen increasing demand for short-term finance from investors who are buying properties in need of renovation, so our intention is to support them not only with the purchase but also with their refurbishment.”