Funding 365 delivers 0.64% refurb bridging loan on Grade II listed Kent flats

Funding 365 has completed a 65% LTV light refurbishment loan at a rate of 0.64% per month secured against three flats in a Grade II listed semi-commercial building in Kent.

Introduced by Positive Commercial Finance, the 12 month loan enables the borrower to complete their renovation, including replacing the roof, whilst freeing up cash flow for future projects.

The loan is under Funding 365’s Light Refurbishment product which offers bespoke solutions of up to 85% LTV for properties across England and Wales, with up to 100% cost of works funded in arrears up to 40% of the OMV.

Calum Waite, Head of Underwriting at Funding 365, comments:

“We’ve developed a close working relationship with John over the past decade that allows us to navigate complex transactions seamlessly to provide the best outcomes for our clients.

The versatility of our Light Refurbishment product came to the fore in this case, where we were able to deliver our 0.64%pm headline rate despite the security being a Grade II listed property and mid project.”

John Waddicker, Director at Positive Commercial Finance, adds:

“Even at the lowest interest rates, Funding 365 use ‘common-sense’ underwriting and deal with any issues pragmatically. Calum is super efficient and always on hand.

A last minute potential issue could have pushed loan completion back a few days, but a decision was made quickly to ensure the loan completed as planned. Another satisfactory completion with Funding 365.”