Property Refurbishment Finances With Zero Compromises.
Tired of looking for loans for property refurbishment? Whether it is an internal reconfiguration or a loft conversion, Mayfair Commercial Mortgages can save your day.
Why You Need Property Refurbishment Finance
Property Value: Maximised
Getting a property refurbishment loan is always a good idea when you’re looking to boost your property’s market value. Whether it is about flipping properties or getting a higher ROI for sale, a refurbishment mortgage is a great decision.
Rental Income: Amplified
It is always wise to consider seeking finance for property refurbishments when you’re aiming for higher rental rates. Our experts at Mayfair Commercial Mortgages always say that a good renovation always leads to better profitability.
Investment Portfolio: Expanded
When you have the right team of brokers on your side, even multiple property refurbishment financing doesn’t seem like a headache. Furthermore, this step helps you boost the growth of your property portfolio seamlessly and efficiently.
What We Do
Property Refurbishment Finance Experts You Can Count On:
- Our well-reputed team of finance specialists at Mayfair Commercial Mortgages can take care of all light and medium refurbishment projects that cost under 30% of the purchase price.
- If you’re not sure about the kind of refurbishment your property needs and the financial considerations that come with each project, let our specialists guide you on your best options.
- From loan amounts to interest rates and repayment schedules, we know exactly how to negotiate the best possible terms and conditions for the underwriting of your refurbishment project.
Whether it is for a change of use, loft conversion, extension, or internal reconfiguration, we offer only the best financing solutions for all our customers.
Features & Benefits
Market-competitive Loans
At Mayfair Commercial Mortgages, we understand the value of your time and money, which is why we offer market-competitive loan sizes for all your property refurbishment finance projects by negotiating with the most reliable lenders in the finance industry.
Customised Solutions
Whether it is a light, medium, or heavy refurbishment, we offer the most custom-tailored finance solutions for all our clients’ property refurbishment loan needs. With access to numerous contacts in the finance industry, we make sure you only get the best loan options.
Word-free Funding
While offering multi-million-pound new build development funding, our brokers also render 70% Gross Development Value and 100% cost funding for all our valued customers so that they can remain worry-free in all their property refurbishments.
How To Get Started
Getting your property refurbishment finance without stress is possible too. Here’s how:
- Call our expert team of finance specialists at Mayfair Commercial Mortgages, and they’ll help you detail your refurbishment goals and targets.
- With set targets and all your financial and property details in hand, we will help you choose the kind of lender you need.
- It is important to devise a detailed proposal for the lender of your choice, but don’t worry, because we will do it for you through our in-depth research techniques.
- If your application gets accepted by the lender after the review, our finance specialists will take care of any required underwriting with all the conditions and terms.
- If the agreement works for you and you’re satisfied with its conditions, we will finalise the required documentation and handle lender negotiations till the deal is finalised.
Contact
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Client reviews
Frequently Asked Questions
What exactly is property refurbishment finance?
Property refurbishment finance is a short-term funding solution designed to cover the cost of upgrading or renovating a commercial property. Unlike a standard loan, funds are typically released in stages as the work progresses.
How do property refurbishment loans differ from standard commercial mortgages?
Standard commercial mortgages are for buying stable, income-producing properties, while refurbishment loans focus on projects that need significant work before they become valuable or rentable. They are more flexible and designed for the construction phase.
Can I use a refurbishment loan for a luxury property refurbishment in London?
Yes, absolutely. We regularly assist developers with high-end projects across London, including period conversions, penthouse upgrades, and luxury apartment modernisations. Share your project’s scope with us for a tailored financing review.
What types of commercial property refurbishment do you fund?
We fund a wide range, including office modernisations, retail unit upgrades, hotel renovations, and conversions to HMOs or flats. If the project improves the property’s value or rental income, we’ll consider it.
Do you offer refurbishment loans for HMO conversions?
Yes, converting a commercial building into a House in Multiple Occupation (HMO Mortgages) is a common use for our finance. We understand the specific planning and building regulation requirements involved.
What is the typical loan size for these projects?
Our facility is designed for serious developers, so we focus on loans from £500,000 upwards. For smaller residential projects, we may not be the best fit, but for commercial and large-scale work, we are ideal. Contact us to discuss your exact funding requirements.
How quickly can I access the funds?
In many cases, we can provide a decision in principle within days, with funds released shortly after valuation and legal checks are complete. Speed depends on your project’s complexity and the information you supply.
Are funds released in one lump sum or in stages?
Typically, funds are released in staged payments known as drawdowns based on completed building works. This protects both you and the lender, ensuring money is available exactly when you need it for the next phase. We can explain the drawdown schedule in detail during your consultation.
Can I include the purchase price of the property in the loan?
Yes, most refurbishment finance packages can cover both the purchase price and the renovation costs, provided the end value supports the total borrowing. This is often called a refurbishment and purchase facility.
Do you require a personal guarantee on refurbishment loans?
Often yes, especially for Special Purpose Vehicle (SPV) companies or newer developers. However, the primary security remains the commercial property itself. We will explain all requirements upfront so there are no surprises.
What if my renovation runs over budget?
We always recommend building a contingency into your initial request. If additional funds are needed, we will review the situation based on the project’s progress and end value. Do not worry, just contact your case manager as soon as a cost overrun appears likely.
Is planning permission required before applying?
In most cases, yes or at least evidence that planning approval is highly likely. Lenders need confidence that the planned work is lawful and will enhance the property’s value. If you are still awaiting decisions, let us know, as some flexibility may exist for light refurbishments.
Can I repay the loan early without heavy penalties?
Some facilities allow early repayment, while others have a minimum term or a small exit fee. This depends on the specific lender and product chosen for your property refurbishment. We will clarify all early repayment terms before you commit, just ask us for the details.
What happens when the refurbishment is finished?
You can either repay the loan by selling the improved property or refinancing onto a standard commercial buy to let or investment mortgage. Many of our clients take the second route to retain the asset for long-term income. We can help you plan the exit strategy from day one.
Will you fund a project where the property is currently vacant?
Yes, vacant commercial properties are often ideal for refurbishment finance because there are no tenants to disrupt. In fact, we see many successful projects starting from empty offices, retail units, or warehouses.
Do you offer bridging loans for commercial refurbishment?
Yes, the finance we provide is often structured as a bridging loan – a short-term facility designed to be repaid within 6 to 24 months. It is perfect for developers who plan to renovate and then refinance or sell quickly.
Can a business owner use refurbishment finance for their own trading premises?
Absolutely. If you own your business’s building, you can borrow to modernise or expand it. For example, adding floor space, upgrading a warehouse, or improving a shopfront. The improved premises can then increase your business value. Get in touch to discuss owner-occupied refurbishment loans.
What information do I need to provide to get started?
You will need a clear project plan, cost breakdown, details of the property, and an estimated end value. If you already have quotes from builders, that helps too. Do not worry if you are missing something – we can guide you through the checklist during an initial call.
Will you consider projects with some existing tenants in place?
Yes, but the structure becomes more complex because lenders want to avoid disturbing tenants or breaching leases. Light refurbishments that work around tenants may still be possible. Speak with us early – we will assess the tenancy situation and advise on the best path forward.
How do I know if my project is eligible?
A project is usually eligible if the total loan is over £500,000, the work clearly increases the property’s value, and you have a realistic exit plan. The best way to find out is to share your high-level figures with our team.
