Specialist lender Together has launched a bridging loan to support investors with residential property refurbishment.
The lender says it is launching the loan because refurbishment has become the most popular reason for turning to bridging, trumping mortgage delays.
Together will lend from £26,000 to £5m, with further advances available.
The loan is designed for light refurbishment, not for properties that need planning permission or structural work.
However, the loan can be used to replace or refurbish kitchens and bathrooms, rewiring, internal reconfiguration and decorative works.
Together commercial chief executive Marc Goldberg says: “We’ve seen increasing demand for short-term finance from investors who are buying properties in need of renovation, so our intention is to support them not only with the purchase but also with their refurbishment.”