Flexible Refurbishment Finance with Avamore Capital
Your refurb, Your rules.
In the last 18 months with many challenges arising for ground up developments we have seen many move to refurbishment and conversion opportunities. These can range from simple internal reconfigurations to large commercial to residential conversions.
The Funding Gap Between Bridging and Development Loans
In a world known as the “Bridging and Development” space, many people are unaware that some lenders offer a specific product for these types of opportunities and often assume they can only obtain a bridge for light refurbishments or development loans for heavier schemes. Bridging schemes where works are required can mean the clients eat into their own cashflow to cover the build costs and development loans can often have a higher cost.
Hybrid Finance: A Better Solution for Refurbs and Conversions
Many lenders actually offer a specific product for these opportunities which can be perfectly placed between both a bridge and development loan. Most can offer the leverage, cost and speed of a bridge but also covering the costs associated with the works. A perfect hybrid product for many refurbishments or conversions.
Helping Clients Navigate Lender Criteria
The difficult part for many brokers and clients is the minefield of criteria often associated with these products. What is light, what is heavy. Structural or non-structural. What each lender will and won’t do is vastly different.
Understanding How Lenders Fund the Works
Another area where most lenders differ is how they fund the works. Generally, there are two options, one as a higher LTV bridge which can save costs as they don’t require an MS or the other with day one funds towards the purchase or refinance and then the build costs funded as drawdowns which can sometimes provide a higher loan overall although does require a higher cash injection from the client.
Bridging Simplicity Meets Development Flexibility with Avamore Capital
With Avamore’s Refurbishment product, you don’t need to worry about which lender to call. Avamore can now fund the works upfront, in drawdowns or even at PC which like the 85% LTV bridge requires no MS and will save on interest. Moreover, Avamore have no restrictions on the amount of build costs or SqFt expansion so can truly fund the full range of refurbishment and conversion opportunities.
About Avamore Capital
Avamore Capital is a specialist lender bridging the gap between traditional bridging and development finance. Avamore Capital offers tailored solutions for refurbishment, conversion, and ground-up projects. With products like their Refurbishment Loans, designed to fund works upfront, in drawdowns, or at point of completion, brokers can access streamlined funding for a wide range of client needs.
Backed by an experienced team and a focus on real-world lending, Avamore helps brokers place deals others can’t.
About Fiducia Commercial Network
Fiducia Commercial Network is a commercial finance ‘Appointed Representative’ network created to allow independent firms to provide commercial property finance and trading business finance options to their existing client base and network.
Joining the network provides opportunities for professional brokers to offer a full range of commercial finance solutions by acting as an Appointed Representative (AR) with the full support of the Fiducia Commercial Network team.
The Fiducia Commercial Network membership includes FCA authorisation and reporting, PI insurance, and NACFB membership, plus business, compliance, finance, system, and admin support from a company with over 20 years’ experience in commercial finance.
If you’d like to discuss joining Fiducia Commercial Network or you’d like to apply to become an Appointed Representative…
To discuss Fiducia Commercial Network or to apply to become an Appointed Representative email the team via by clicking this link.
For all media and marketing enquiries contact – pr@fiduciagroup.co.uk
Fiducia Commercial Network Announce Kalon Commercial Contract Extension
Fiducia Commercial Network is delighted to announce a two-year contract extension with Kalon Commer
Fiducia Commercial Network welcomes new Marketing Manager, Michelle Bateman.
Following a successful end to 2023, where the network team experienced rapid expansion, the commerci
Playter Hits Significant Milestone as they team up with Fiducia Commercial Network – Their First Commercial Finance Network Partner.
Playter, the innovative lender, whose change-making approach has simplified the world of finance for