Bridging finance guide
Bridging loan for refurbishment
A refurbishment bridging loan may help purchase or refinance a property while works are completed before sale or longer-term refinance.
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When refurbishment bridging may fit
It may be reviewed for light works, heavy refurbishment, conversion, change of use or improving a property before sale or refinance.
Lenders may review property value, works cost, planning, borrower experience, contribution, valuation and exit route.
Documents that help
Useful documents include schedule of works, costings, property details, valuation, planning position, contractor details and exit plan.
If the works are structural or require consent, evidence should be clear early.
Exit route
The lender will usually want to know whether the bridge exits through sale, commercial mortgage, buy-to-let refinance or another funding route.
How Jolt makes the next step easier
You do not need to know the perfect lender before making an enquiry. Jolt looks at the purpose, timing and evidence, then helps aim the case at a realistic funding route.
Start with the amount, what the money is for and how quickly it is needed. If the route is not obvious, Jolt can still review the enquiry and explain the clearest next step.
Bridging loan for refurbishment FAQs
Can a bridge fund refurbishment?
Some lenders may consider refurbishment funding depending on works, property and borrower profile. The property details, valuation, security position, works, timing and exit route usually decide how strong the case looks.
What is light refurbishment?
Usually cosmetic or non-structural work, but lender definitions vary. The property details, valuation, security position, works, timing and exit route usually decide how strong the case looks.
What is heavy refurbishment?
It can involve structural works, planning, conversion or more complex project risk. The property details, valuation, security position, works, timing and exit route usually decide how strong the case looks.
What documents help?
Schedule of works, costings, valuation, planning details and exit plan are useful. It also helps to explain the amount needed, what the funding will do, how quickly it is needed and how repayments or the exit route are expected to work.