London credit

London Credit launches extend or convert refurb product

London Credit has introduced an extend or convert refurbishment product for property investors who want to increase value by adding space or changing the use of a property.

The offering allows for up to 100% of the cost of works on extensions and conversions, and can provide further advances for additional work if new planning permissions are secured during the course of the renovations.

Loans are between £100,000 and £3m, at up to 70% LTV for a maximum term of 18 months, with a 2% arrangement fee and no application or exit charges.

The product can be secured against most types of properties in England across residential, semi-commercial and commercial-to-residential conversions.

It can be used for a wide variety of purposes, including heavy refurbishment, conversion, PDR schemes and finish and exits.

Marios Theophanous, credit manager at London Credit (pictured above), said: “There are many refurb products available in the bridging market, but most only allow for cosmetic changes and modernisation. 

“The real opportunity for investors, however, lies in being able to extend or convert a property to deliver a significant uplift in value. 

“…The product is supported by our exceptional service, which means we are able to help investors access new extension or conversion opportunities within days of submitting an application.”

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