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AVM
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DESKTOP VALUATION UP TO £2M
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Bridging Loans for Light Refurbishment
Looking for a light refurbishment loan to pursue your goals in making your property ready to sell for even more?
Look to us at MS Lending Group to find out how we can help.
What is a Light Refurbishment Bridging Loan?
A light refurbishment bridging loan is a finance product, a branch of short term lending, designed for those that are working on residential property purchases that require minor, non-structural improvements before sale, refinancing, or letting.
This kind of loan is ideal for projects that can be completed within six months and for those that do not require planning consent.
“What counts as light refurbishment?”
This type of light refurbishment loan can cover a range of works, this typically includes redecorating activities such as, but not limited to; replacing kitchens, bathrooms, flooring, fixtures, and fittings, as well as upgrading windows and doors.
It can also be used for creating additional facilities like extra bathrooms or kitchenettes, provided these changes are made under permitted development rules and importantly, without increasing the property’s square footage.
At MS Lending Group, our light refurbishment bridging loans are available for residential properties only, with no minimum loan size and a maximum loan size of £1 million.
With this, you’re able to seriously increase the value of the property across many different areas around the home; get in touch to find out how we can help you maximise your income.
How Is a Light Refurbishment Bridging Loan Beneficial?
We understand that you don’t always need hundreds of thousands to make your property more sellable, but it might take some level of investment to increase your earning potential. This goes for sales and rentals.
That being said, bridging loans for light refurbishment are particularly useful for those in the business of property investment, landlords, and developers looking to add value quickly without a lengthy and time consuming process of full scale refurb.
So, how can our bridging loans for light refurbishment benefit you directly?
By accessing up to 85% of the purchase price or open market value (OMV) or 70% of the post-works gross development value (GDV), whichever is lower, you can fund both the purchase and the planned works in one facility.
This type of rapid light refurbishment loan allows you to act fast in competitive markets, especially when buying at auction or securing a property that needs some light upgrades to reach its full potential.
Interest is retained, meaning you won’t need to make monthly payments during the loan term, giving you breathing room to focus on the refurbishment itself.
So, whether you’re upgrading a standard buy-to-let or converting a residential property into a small HMO under permitted development, light refurbishment loans offer a flexible and efficient funding solution from us at MS Lending Group.
What Are the Types of Light Refurbishment?
Light refurbishment bridging loans aim to cover improvements that are cosmetic or minor in nature rather than structural, the key types of light refurbishment include:
- Internal and external redecoration.
- Replacement or renewal of kitchens and bathrooms.
- Upgrading fixtures, fittings, and flooring.
- Installing new windows or doors.
- Adding new bathrooms or kitchenettes.
“Is there any eligibility criteria for light refurbishment bridging loans?”
There are some requirements to fit the bill for a light refurbishment loan, key things to remember is that the works must be achievable within a six-month timeframe, confirmed via a desktop or full RICS valuation.
There should be no structural changes involved nor significant reconfigurations, or works requiring planning permission.
Plus, any change of use (such as from C3 to C4 for HMO purposes) must be completed under permitted development rights.
For larger projects that involve both minor and major works, a light to heavy refurbishment loan may be more appropriate.
Key Essentials to Know from MS Lending Group
To better understand our key aspects of what we do at MS Lending group for light refurbishment loans, here are our key facts and figures to refer to…
What we offer…
- Loan size: No minimum, up to £1 million maximum.
- LTV: Up to 85% of purchase price/OMV or 70% of post-works GDV (whichever is lower).
- Valuations: AVMs on loans up to £100,000; desktop valuations up to £500,000; full panel RICS valuations for loans over £500,000.
- Works spend limits:
- For properties under £100k: max 30% of current value.
- For properties over £100k: max 25% of current value.
Required from you…
- Standard residential: evidence of one buy-to-let or previous flip.
- HMO with no reconfiguration: currently own one HMO.
- HMO with reconfiguration or 6+ beds: 2x HMO experience.
- Term: Maximum 12 months.
- Full schedule of works required, interest retained, and proof of funds to cover the cost of works must be provided.
While this may look like a lot to take in, rest assured we take you through every step and explain what we need from you in the easiest way possible.
Simply get in touch with us today to find out how we can help you get refurbishments done seamlessly for a better return on your property.
Why Choose MS Lending Group for Light Refurbishment Loans?
At MS Lending Group, we understand that speed and flexibility are crucial when it comes to bridging loans for light refurbishment.
For this reason, our team is well versed with a streamlined application process, fast decisions and of course, competitive light refurbishment loan rates designed to help you maximise your property’s value in the shortest time possible.
With no minimum loan size and flexible valuation options, MS Lending Group is a trusted choice for property professionals across the UK looking to secure light refurbishment bridging loans that deliver results.
frequently asked questions
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Submit our application form or speak to one of our team members if you have any questions
client testimonials
Fantastic service – application to completion in 12 working days!
Auction purchase with a 15-day completion time on a semi-commercial property. The ability to use a desktop valuation along with the speed of the underwriting meant a great result for the client.
BROKER
The communication throughout the entire process was outstanding.
The team were incredibly responsive, answering all questions promptly and providing regular updates on the status of my application.
I never felt left in the dark, the application process was straightforward and well organised.
BROKER
Excellent speed and response times to all queries.
With a very tight timescale for the client, all parts of the operation pulled together to get there in a very small amount of time!
I cannot fault anything with the whole process!
BROKER
MS Lending Group were phenomenal as always!
The ‘get the deal done’ ethos is (with a lot of lenders) exactly what is missing in bridging, but not with MS Lending Group.
A common-sense approach over the tick-box exercise mentality applied by some is refreshing to say the least! The staff are great too, really friendly and helpful!
BROKER
Communication with everyone at MS Lending Group, in particular Mike Watson, was exceptional.
Clear, concise, common-sense approach to all queries raised and a very fast process with no delayed SLA queues.
17 days, including weekends, from application to completion!
BROKER
Communication is always exemplary with the team at MS Lending Group.
I really value the relationship that we have and the continued support that we get to help our clients.
BROKER
The service was amazing! From the start of the deal with Adam to the application team, everything was so smooth!
The requirements asked for were completely reasonable, and everything was reviewed within a 2-hour turnaround time (if not hours)!
The whole process from start to finish was outstanding, especially on such a sensitive case.
BROKER
The customer service throughout.
The communication was excellent. Was never left waiting for a response.
The turn around. It was a matter of less than a week once everything was provided.
BROKER
As always, second to none service from MS Lending Group.
Speed, service, simplicity as is the MS Lending Group way.
Special shout out to Sam Bryce and Aimee Everton who were on top form throughout with updates, requests and another on-time completion!
BROKER
I can’t thank MS Lending Group enough. I had a mortgage in place but the process was taking too long which was making me very nervous ahead of the stamp duty deadline.
MS Lending Group stepped in and got a bridging loan completed within 48 hours to save the purchase and my deposit. I can’t thank the team enough and would recommend them to any other investors.
CLIENT
Most recently, a client of ours had been let down from their lender at the very last minute. They were really up against it in terms of time, and typically this business would have been lost. Knowing MS Lending Group entered the market with a no valuation necessary product up to £500,000, we quickly got in touch.
MS Lending Group approved the transaction within 24 hours, instructed solicitors, and the client was able to complete before their completion date. It was refreshing to see such a new business working in a slick and professional way.
BROKER
The communication and speed have been second to none. There seems to be many touch points by both the sales team and underwriter throughout which has kept the deal moving at pace throughout.
It really helps when all sides are communicating and are motivated in getting the deal done.
BROKER
The service was amazing! From the start of the deal with Adam, to the application team, everything was so smooth!
The requirements asked for were completely reasonable and everything was reviewed within a 24 hour turnaround time (if not hours)!
The whole process from start to finish was outstanding, especially on such a time sensitive case.
BROKER
case studies
Property Developer Portfolio Addition
- locationManchester
- funded£103,500
- ltv75%
- product Commercial Residential
7-Day 85% Light Refurbishment Bridge in Folkestone
- locationFolkestone
- funded£111,350
- ltv85%
- product Residential
news & Insights
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Bridging Loan for Auction Property: Explained