Andy Reid

Oblix Capital enhances refurbishment bridging product

Oblix Capital has revealed further improvements to its refurbishment bridging product.

In June, the specialist lender introduced a revaluation option at building control stage, which allows further borrowing up to the revised 75% LTV in addition to an extension of the loan for a further 12 months.

Oblix Capital’s latest enhancement will allow more extensive work to be undertaken and provide an uncommitted option to wrap to a further bridge after works are completed.

“We’re delighted with the positive response and number of enquiries we’ve received since we enhanced the product in June, but we aren’t happy to rest on our laurels,” said Andy Reid, director of intermediary and network at Oblix Capital (pictured above).

“We’ve continued to seek broker feedback and we’ve acted further on what they’ve told us. 

“The deals presented to us vary in their make-up and requirements and, in the past, we have tailored bespoke rates and terms for many of these.

“We’ll continue that approach, but we’ve also taken steps to reduce some of the interest rates across our bridging contracts.”

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