UK Refurbishment Loan

To enhance the value of their existing properties before renting or selling, property investors and landlords frequently choose to refurbish them. Applying for a refurbishment loan is one of the most effective ways for an investor to upgrade their property.

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What are the main categories of refurbishment finance?

Light refurbishment finance

This pertains to the category of refurbishment loans used for minor-scale enhancements where there is no alteration in the intended use of the property. Typically, this loan type is employed to fund basic repairs and renovations. Some examples of such repairs and renovations include redecoration, installing a central heating system, fitting new windows or doors, installing a new kitchen or bathroom, or a combination of these upgrades, among others.

Landlords and property investors aiming to refurbish a single property can secure a loan for up to 75% of the project’s anticipated end value. However, lenders may consider more complex projects such as blocks of flats and multi-apartment buildings. It is worth noting that larger projects often come with higher borrowing rates.

Heavy refurbishment finance

Heavy refurbishment financing is well-suited for property investors seeking to undertake significant structural changes that adhere to building regulations. In the case of such loans, the lending criteria undergo alterations, and the rates are highly competitive. Projects that necessitate this type of financing encompass properties requiring planning permission, conversions, property extensions, and structural work, among other substantial alterations.

What types of properties can be refurbished?

At MJ Capital Finance, we provide property refurbishment loans to our customers for a diverse range of properties. Common properties that our previous customers have refurbished include:

• Residential properties
• Commercial properties
• Unmortgageable properties, including non-standard constructions
• Auction properties

If your business needs finance or funding, we can help. We have access to providers of a vast range of funding options and facilities, from factoring to invoice finance, working capital loans, and lease buy-outs. If you have a business that needs cash, we will work hard for you to arrange the best funding option for you.

When embarking on the refurbishment of a property, it’s crucial to meticulously consider the associated costs, encompassing both maintenance and renovation expenses. The most effective approach is to establish a comprehensive budget, gaining a clear understanding of the required funds right from the start. Costs that need to be accounted for in your budget comprise:

Professional – fees for engineers, architects, and solicitors
Construction – expenses for materials and labour
Renovation – costs associated with the removal and replacement of appliances in areas such as the bathroom or kitchen

Are you planning to renovate your initial auction property as a buy-to-let landlord? Or do you aspire to convert your substantial commercial building into a block of flats?

MJ Capital Finance is widely recognised for providing refurbishment loans in the UK across all types of property refurbishment projects. We provide swift and flexible borrowing options for our customers, regardless of their experience levels. Notably, the rates we offer are highly competitive. Investors who seek our services benefit from expert guidance and assistance in securing a realistic and optimal refurbishment loan for their upgrade projects.

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The experts at MJ Capital Finance can work with you to ensure there is business funding available at times when it’s needed. Why not get in touch to discuss your requirement for a UK refurbishment loan in more detail? We’ll happily talk you through all available options because if your business doesn’t qualify for a UK Refurbishment loan, there are lots more loan products that could be more suitable.