The product has a rate of 0.90% per month with terms available up to two years, and is designed to support larger, more complex projects.
HTB’s heavy refurbishment product offers day-one lending of up to 70% of the current property value, with a maximum LTGDV ratio capped at 70%, including rolled interest — loans start from a minimum of £150,000.
Commenting on the new product, Lorenzo Satchell, sales director of bridging at HTB (pictured above), said: “HTB has taken the time to listen to our key partners about what they need from lenders, and it’s clear there’s a strong demand for heavy refurbishment funding.
- B&C Awards 2024: The Video
- Alex Upton to lead HTB's bridging division as Jamie Jolly steps down
- HTB completes £6.4m multi-property portfolio refinance
“Landlords are increasingly looking to extend properties to generate better yields or carry out conversions on properties with permitted development in place. However, they need agile, flexible funding to make these works a reality.
Alex Upton, managing director of specialist mortgages at HTB, who has now assumed responsibility for bridging at the firm, added: “The launch of our heavy refurb product is a key part of HTB’s ongoing commitment to continually improving our bridging offering.
“This product not only expands our proposition but also reflects our dedication to providing brokers with flexible, adaptable solutions that fit even the most complex client requirements.”
Leave a comment