Albatross unveils simplified eight-product refurbishment range

Albatross Lending Group has refreshed its refurbishment lending range, bringing eight products together across three clearly defined families: works-based, loan-based and specialist.

Shaped by broker feedback, the range aims to makes it easier to identify the right product from the outset, while supporting a more consistent experience from initial enquiry through to completion.

Each case is assessed on its individual merits, considering the borrower’s experience, the asset quality, the nature of the works and the overall strength of the proposition.

Rates start from 0.75% per month, with facilities ranging from £100,000 to £10m, depending on the product and tier.

The works-based family covers projects from cosmetic improvements through to schemes approaching completion.

Light refurb supports cosmetic, non-structural works costing up to 20% of the property’s current value.

Heavy refurb funds consented structural works, including change of use and HMO conversions.

Development exit provides refinancing for schemes at or near completion, giving borrowers time to sell or let the units.

Each product is offered across two pricing tiers, with more competitive pricing recognising stronger overall propositions and relevant borrower experience.

The loan-based family brings together three products designed around the funding requirement and the resources available to the borrower.

Finish and exit supports part-built schemes that are wind and watertight, where the original funding has broken down and further finance is needed to complete the project and achieve an exit.

Stretched leverage enables a higher advance using additional security.

Self-funded supports borrowers financing the works from their own resources, with the facility sized around the asset and the term required.

The specialist family brings together two strands: repeat borrower and problem solver.

Repeat borrower recognises an established track record with Albatross through streamlined due diligence and relationship pricing.

Problem solver supports more complex cases that fall outside standard lending criteria, with each facility assessed and structured around the individual circumstances.

Jordan Fearnley-Brown, co-founder and principal at Albatross, said: “Brokers already come to us with a broad range of refurbishment cases.

“This refresh is about making those capabilities easier to understand and access, with greater clarity on where a case fits, what we need to assess it and how we arrive at a price.

“We have listened to broker feedback and used it to simplify the way we present our range.

“Behind each product is the same individual approach to assessing a case; recognising the borrower’s experience, the quality of the asset and the strength of the project.”