The bridging finance lender has launched a new heavy refurbishment product following the introduction of a mixed-use/semi-commercial offering last month.

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The heavy refurbishment product is designed to provide funding support for experienced developers looking to enhance asset valuations and see their projects through to practical completion. 

Tuscan has also revealed further details about its mixed-use/semi-commercial offering. 

Key product features include:

Acceptable security types:

• retail outlets with accommodation (min 40% residential use)
• student accommodation
• licensed HMOs
• buy-to-let portfolios
• restaurants with accommodation (min 40% residential use)
• permitted development schemes

Lending criteria:

• minimum loan – £150,000
• maximum loan – £3m
• first charge
• maximum LTV – 70%
• lending region – England and Wales
• freehold or leasehold with a min term of 35 years remaining

Tuscan added that brokers can access all four of its product streams – bridge, auction, mixed-use and refurbishment – via its website or by calling its client services broker hub.

“Buoyed by our first eight months of trading – and encouraged by conversations with our erudite supporting brokers – we decided this was the right time to expand our product offering,” said Colin Sanders, CEO and co-founder of Tuscan Capital (pictured above).

“Sitting alongside our bridge and auction funding solutions, we’re now able to offer brokers and their clients access to competitive and fully supported funding for mixed-use borrowing and heavy refurbishment schemes.

“Collectively, the team at Tuscan Capital has deep experience of these sectors, and with guaranteed direct access to senior mandated decision makers, brokers can be assured of speedy decisions and outcomes unhampered by cumbersome credit committee hierarchies.”