Property Finance
Light, medium AND heavy refurbishments without restrictions on LTV
One of the UK’s Leading Providers of Fast Bridging Finance
M’Cube Holdings lend on light, medium and heavy refurbishments without restrictions on LTV. All structural issues are considered, a structural engineers report is not always needed. Where there is more potential for adding value especially through standard kitchen, bathroom redecoration refurbs the better – an avocado bathroom and 1970’s brown patterned carpet are our speciality properties!
We lend up to 90% day one with a maximum of 75% GDV. Run your figures through our calculator to see what you can borrow.
Planning
All planning permissions need to be submitted on application and approved by completion.
If the borrower requires planning for change of use or for works they intend to do to enhance the value of the property, the planning application needs to have at least been submitted for the surveyor to consider when we request the survey and has to be approved before completion of the purchase.
Otherwise, we would be lending against enhanced figures based on changes that may not be able to be made if the planning is declined.
Heavy Refurbishment
We don’t do Development Finance, but we may be open to drawdowns on a heavy refurb, but the borrower must have enough capital to impact the value first.
Ultimately the borrowers need to have their own funds to start the refurbishment and make a positive impact on the value of the property for a drawdown to work.
We will only drawdown up to a maximum of 75% LTV and this would be based on a new RICS valuation being completed at the borrowers cost to provide that new increased valuation at the point of each drawdown request.