The specialist lender has also seen 12% more refurb AIPs — which consist of a mix of light and heavy refurb — during the current Q2 2019 compared with the whole of Q2 2018.
Completion levels for H1 2019 are projected to be significantly higher than H1 2018.
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Mark Posniak, managing director at Octane Capital (pictured above), said: “With the current taxation regime squeezing margins, portfolio landlords are increasingly using refurb bridges to manufacture value out of their portfolios, whether through change of use or modernisation and refitting.
“[The private rented sector] has changed the rules of the rental game and is forcing landlords to really raise the bar if they want to remain competitive with the new generation of more discriminating lifetime tenants.”