Bridgebank Capital have announced the launch of an innovative Two-Tier bridging loan specifically designed to meet the needs of residential property landlords that acquire un-modernised properties and carry out a complete renovation and refurbishment of the property to either sell on or hold for investment purposes.

The loan will be of particular interest to independent builders and tradesmen that carry out their own modernisation work on properties.

The loan is designed to provide initial acquisition finance with a further advance being made after the completion of the modernisation works based on the enhanced value of the property, which will allow the borrower time to either secure a sale of the property or arrange a re-mortgage.

The maximum period for the loan is 8 months which can be divided with total flexibility to suit individual cases between the time to complete the modernisation works and the time required to then re-finance or sell the property.

The loan carries Bridgebank Capital’s unique ‘waterfall’ interest structure where the interest rate is reduced for the period of the loan needed after the completion of the modernisation works.

Chris Parr, Head of Business Development for Bridgebank Capital says “ We have a regular flow of enquiries from businessmen that are both builders and property landlords, needing the flexibility that this loan offers. The launch of this product and its unique structure and pricing has been carefully planned to meet these very specific needs. This is yet another exciting and innovative product from the company, and we expect to see a regular flow of new business for this specific product”

For more information, please contact Bridgebank Capital on 0808 222 22 11 or email [email protected]