It is a great question to ask because there are multiple benefits of refurbishment bridging loans. Read below and you can understand how beneficial it can be for you to choose this loan option.
Higher loan-to-value ratio: In refurbishment bridging loans, the LTV is much higher. It is 75% to 80% of total property value. Due to this higher LTV ratio, businesses can get access to a considerable amount of capital.
Speedy and flexible: Refurbishment bridging loans are speedy in procedure and flexible in rates and repayments. You can obtain funds in a maximum of one week. By the end of the week, you can start using the funds for the purpose.
Multiple types: You can obtain funds for commercial, residential and mixed property (commercial/residential) refurbishment requirements. Depending on the property type, the loan type changes.