Interbay Term Refurb – New product type to help Property InvestorsMake Text Bigger
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.
- 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.
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