Oblix Capital enhances refurbishment bridge
Oblix Capital has enhanced its Refurbishment Bridge product, by allowing the Market Value to be updated at the point of Building Control sign-off.
If the refurbishment works have increased the Market Value at that point as expected, the 75% maximum LTV will (subject to underwriting) be re-applied to the revised valuation, enabling further borrowing up to the revised maximum limit. The loan term can also be extended for a further 12 months at this stage.
Andy Reid, pictured, Director of Sales, said:
“I’m delighted with this enhancement to our Refurbishment bridge product – when Building Control is signed off, the new feature will provide flexibility and options to the borrower. It’s a great example of how Oblix Capital is using its experience and understanding of the market to offer creative real estate lending solutions.”
Oblix Capital also offers a range of Refurbishment and Permitted Development bridging products