Types of refurbishment products
Light refurbishment comprises non-structural projects typically costing less than 30% of the day one value or purchase price. They are used to secure funding to redecorate, or replace kitchens and bathrooms.
Medium refurbishment products are also used for non-structural projects also typically costing less than 30% of the day one value or purchase price. However, these funds can be used not only to redecorate, but to add new windows and doors, new flooring or replace kitchens and bathrooms.
Heavy refurbishment projects are likely to include structural alterations to the property, but they should not typically exceed more than 40% of the property’s value.
This type of refurbishment is available to pay for extensions, loft conversions, internal reconfigurations or a change of use.
