BLG brings property refurbishment finance to developers at competitive terms that cannot usually be found on the high street. These bespoke funding solutions have been helping developers to build and refurbish properties for many years.
Our team has a combined 250 years of management experience in real estate, banking, financial companies and investment houses. This puts us in a position where we have the knowledge to be responsive to your needs and find the financing solution you need.
BLG is a principal lender specialising in residential development finance, including property refurbishment finance and we provide loans to house builders and developers throughout England, Wales and Scotland. We won’t keep you waiting for a decision; we offer local support through our nationwide team of Regional Directors who are always available to discuss your residential lending requirements. Our expertise allows us to respond quickly to your enquiry and we have the flexibility to tackle unforeseen challenges.
Property Refurbishment Loans
Property refurbishment loans can be constructed as a first charge or second charge debt, or as a joint venture with equity finance loans:
Stretch Senior Development Finance
This is a first charge debt that gives house builders high loan to value funding for residential projects. These refurbishment loans can be issued at levels higher than the 50% of Gross Development Value often offered on the high street. With BLG lending typically between £500,000 and £10 million, taken over a 12 or 24 month term, these property refurbishment loans can be used to gain improved project cash-flow or to release the developers cash to fund an additional refurbishment.
Also widely known as a mezz loan, this refurbishment loan is a second charge debt that can be used to increase the gearing and top-up the level of finance for a property refurbishment. Taken over a 12 or 24 month term, these loans can be issued with a value of from £250,000 to £3million and up to 90% loan to cost and 70% loan to Gross Development Value.
Joint venture and Equity Finance Loans
This type of refurbishment loan can be used to finance up to 100% of development cost. For the experienced developer, the investment is provided through BLG’s High Net Worth Joint Venture Partners and shares are held in a specially created Special Purpose Vehicle or through a profit share agreement, with guarantees on cost overruns to protect return.
BLG believes in building success and prosperity for our customers, investors and partners, meaning that we grow as you do. We take the time to get to know our customers and their projects and are open to ideas and feedback.
You can contact BLG to discuss further or arrange property refurbishment finance by calling 0845 465 6500 or you may alternatively send us a message and your local BLG Regional Director will get in touch with you as soon as possible.