Interbay Term Refurb – New product type to help Property Investors

by Property 118

13:38 PM, 12th June 2014
About 4 years ago

Interbay Term Refurb – New product type to help Property Investors

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Interbay Term Refurb – New product type to help Property Investors

The New Interbay commercial Term Refurb mortgage product allows a refurb period for a borrower to enhance the value and earnings potential of a property with a view to holding.

This is a longer term product with a period during which the property will be vacant to allow property owners to undertake a refurbishment project.

There are plenty of bridging finance products in the market, but some borrowers are looking for a longer term loan that does not need to be repaid inside 6 months.

The shorter term refurb loan can then be refinanced up to 85% LTV after works completed!

Interbay have their own in house surveyors who complement the external valuations that are undertaken allowing them to accurately assess and underwrite this type of mortgage.

Product information:

  • Maximum LTV during Refurb Period 75%
  • Light & Medium Refurb Options
  • Rates from 0.65% per month during refurb
  • Interest can be rolled up for 6 months if required
  • Reverts to Standard Buy to Let Product up to 85% after works completed
  • Fees only charged on extra drawdown when reverting to standard buy to let product
  • Refurb term up to 12 Months
  • Max Term 30 years
  • Semi-commercial and HMO
  • Loans can be made to individuals, limited companies LLPs, partnerships, trusts and pension schemes. Available for owner or investor
  • Location – England and Wales

If you would like our assistance with the above or any type of property finance please complete the form below or alternatively call 01603 489118.

Contact Property118 for assistance

  • Please give us a few details so we can investigate and call you back

 



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