MOVA / Refurbishment Finance
Refurbishment finance.
Plan the work and the funding.
Talk through the purchase, scope of works, costs and intended exit. The level of refurbishment helps determine which finance routes may be worth exploring.
Initial conversation at no cost · No pressure to proceed
Start with what matters to you.
You do not need to choose a product before getting in touch. Bring your plans and your questions; Steven will help you understand the next step.
Three things to clarify
Plan your refurbishment funding.
The work
Describe what will change, including any structural work, conversion or planning requirements.
The cash flow
Show when the money is needed, not only the total project budget.
The finished plan
Explain whether you expect to sell, retain or refinance once the work is complete.
Light and heavy refurbishment need different conversations.
A cosmetic refresh is different from structural alterations, a conversion or substantial redevelopment. Lenders use their own definitions. Bring a clear schedule of works, realistic costs and the relevant permissions or approvals rather than relying on the project label.
Know how money may be released.
Some facilities release funding in stages as work progresses. Conditions, inspections and monitoring can affect the timing and amount of a drawdown. A project needs enough cash to work with the proposed facility, including the point at which you pay contractors.
- Include professional fees, finance costs and a contingency in your budget.
- Understand which costs you must meet before a drawdown is available.
Test the exit against the finished property.
If you plan to refinance, think about the property’s expected condition and intended use at that point. If you plan to sell, consider the timescale and a realistic value. Neither a projected end value nor future refinancing is guaranteed. Steven can help identify the information needed for an informed finance discussion.
Your questions, answered
Clearer on the detail.
Ready for the next step.
Have a question that is specific to you?
Is every renovation a bridging case?
No. The scope, property, borrowing need and exit determine which routes may be relevant.
Will all the works money be available on day one?
Not necessarily. The lender’s facility and drawdown conditions determine when funding can be released.
Do I need a completed proposal to enquire?
No. Start with the information you have, but flag missing costings or permissions clearly.
A practical next step
Talk through your plans
with Steven.
An initial conversation can help you understand where to start and what information may be needed next.
Your property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it. Some forms of commercial mortgage and buy-to-let mortgage are not regulated by the Financial Conduct Authority. Finance is subject to eligibility, underwriting, valuation and legal checks. Fees, charges and relevant terms will be explained before you choose to proceed.